Lupin has announced the launch of its new second regional reference laboratory in Bengaluru. The company also plans to add another 17 in FY24, of which 7-8 will be in the southern part of India and the rest in the areas where it is already present in West India. In the South, it already operates a lab in Hyderabad and intends to expand to locations including Hubli, Vijayawada, Mysuru and Chennai.
“Our longer-term vision is to have 100 labs by 2027-28, with the focus being to make sure that we do not open too many labs, but whatever we open, we make sure that the maximum number of texts happen there itself so that the patient gets to report on time,” said Ravindra Kumar, CEO of Lupin Diagnostics.
According to the company, the total diagnostic market in India is ₹90,000 crore, annually growing almost 15-16 per cent CAGR y-o-y with only 16 per cent being managed by organised players.
Currently, it operates 25 laboratories and has more than 410 collection centers across India. Moreover, it plans to have 1,000 collection centers by March 24. Kumar also said the company is focusing on bringing in some new tests that are not available in the country. “Within the span of the next three months, we’ll find something very interesting from our end as we are trying to get those tests that are presently done from the US and Europe to India.”
Of the 24 labs, one is a national reference lab, six are regional reference labs and the rest are all satellite reference labs. He added that the aim is to make sure the company serves close to a 200-km radius through one lab. “So that the turnaround time is the same day for routine tests. And for high-end tests that have to come to RRL, it also goes much faster.”
The new laboratory in Bengaluru is equipped with advanced technologies, and in addition to routine and specialised tests, the laboratory offers a comprehensive range of diagnostics services, including molecular diagnostics, cytogenetics, flow cytometry, cytology, microbiology, serology, haematology, histopathology, immunology, and routine biochemistry, among others.
Currently, the company employs more than 450 people across a variety of labs and collection centres, and “after we reach a strength of close to 100 labs, we will have an employee base of around 1,500-1,700.”
Lupin Diagnostics Ltd is a wholly owned subsidiary of Lupin Ltd. Founded in December 2021, the company is headquartered in Mumbai and provides comprehensive range of diagnostic services to doctors, patients and consumers.