Metropolis Healthcare aims to expand to 1,000 towns, eyes north and east India

livemint.com:

Mint. The Mumbai-based company has a strong foothold in the southern and western parts of the country, and is planning to bolster its presence in the northern and eastern regions. It's targeting Uttar Pradesh, Uttarakhand, Madhya Pradesh (MP), Assam, Telangana, and Andhra Pradesh (AP).

It is currently present in 23 states across the country as well as internationally in south Asia, Africa, and west Asia. “We are reinforcing our strategy of expanding our footprints venturing into tier 3 and tier 4 towns, while also concentrating efforts in vital clusters across our core geographies. We are targeting these states after careful consideration.

UP and MP are vast markets while Assam and the northeast remain underserved, so, there are a lot of good opportunities available in these markets. AP and Telangana, also have great opportunities to grow," he added. The diagnostics industry has a lot of space to grow, as the sector is currently fragmented and dominated by small and regional players, which are under financial stress, and as awareness about health grows in the country.

The Indian diagnostics industry is projected to nearly double to $25 billion by FY28, up from $13 billion in FY23, according to a Praxis Global Alliance report. The company is looking to start with 2-3 bolt-on acquisitions during FY25, with a deeper penetration through organic growth. The company will deploy around ₹70 crore as capital expenditure for organic growth.

A bolt-on acquisition refers to acquisition of a smaller firm that presents a strategic fit. “We are looking for M&A opportunities not only in these new markets but also the existing ones and will allot capital as and when an acquisition is in motion. But we have plans to set up 25 new labs