HYDERABAD: Serial entrepreneur
GSK Velu, who had exited pathology chain
Metropolis for ₹900 crore in 2015 in favour of
Carlyle, is looking at fundraising from global private equity investors for expanding operations of his pathology and medical equipment ventures
Neuberg Diagnostics and
Trivitron Healthcare in
Africa and the Middle East.
Velu is looking at aggressively acquiring pathology chains and medical equipment makers in these markets through funds to be mobilised from various channels, including IPOs over the next couple of years.
Floated in October 2017, Neuberg Diagnostics has around 60 laboratories spread across India, Africa and the Middle East and has reported the fastest growth in sales at ₹450 crore during fiscal to March 2019, the first full year of operations. Trivitron Healthcare, which currently has nine manufacturing facilities spread across Chennai, Mumbai, and Pune in India, Helsinki in Finland and Ankara in Turkey, has reported around ₹650 crore of revenues in fiscal to March 2019.
“What I did in 17 years at Metropolis, I could do faster this time at Neuberg Diagnostics because I had the cash and knowledge of how to do it,” Velu told
ET. “Neuberg Diagnostics has already emerged the fourth largest diagnostics chain in India after Dr Lal, SRL and Metropolis.”
The serial entrepreneur, who has invested close to ₹400 crore on organic and inorganic growth initiatives of Neuberg Diagnostics, says his venture did differently from the competition.
“We have almost 40% or around ₹200 crore of our revenues coming from international business, highest among the pathological chains in India.”