Medizinisch Diagnostiche Institute (MDI) of Germany has made its maiden Indian entry with the setting up of a centre at the Indiana Hospital & Heart Institute in Mangalore.
The facility at Indiana Hospital & Heart Institute in Mangalore is a collection centre and processing unit in Karnataka, said Devendu Mehta, director, MDI Laboratories India in a statement.
The German lab major has announced its plans to for an India entry in October 20012 where it was slated to invest Rs.150 crore in the Indian subsidiary. It plans to achieve a turnover of Rs.350 crore in 2015 in its Indian subsidiary.
"We have drawn up Rs.150 crore expansion plans over the next three years period, of which our German parent MDI will invest Rs.50 crore. We would install world-class automated machines and web-based software in 25 hospital labs across the country. The company also plans to achieve a turnover of Rs 50 crore in FY'13 and Rs 350 crore in FY'15. The expansion will be funded through internal accruals only,” Mehta said.
According to the CII-KPMG report, the India's pathological laboratory sector in 2012 clocked d US$ 2.5 billion. By 2015, the sector is estimated at US$ 4.8 billion. The diagnostic and pathological laboratory test services market holds 52.1 per cent of share.