Teleradiology Solutions (TRS) on Monday announced that it has registered an overall revenue increase of 300 percent for the year and aspires to achieve 100 million by doubling its revenues every three years. The company also claimed that it is also looking to double its global revenues every three years, have more penetration in the US market, and widen its presence in the EMEA region and APAC market.
“To achieve its objective, TRS will also provide innovative services and adopt the latest technologies to deliver such services across the spectrum of radiologic subspecialties. The company is also working closely with various partners (both private and governmental) to develop and deliver telehealth solutions that differentiate its offerings and create impact, the company said in a statement on Monday.
“TRS is helping healthcare institutions stay both relevant & competitive in this digital world. The next phase for TRS is to build on its reputation for quality and excellence to deliver a range of innovative and cost-effective radiology solutions. We locked an increase in our revenue for the year by 300% and are aspiring to achieve 100 million by doubling our revenues every three years basis our strategy for organic and inorganic opportunities,” Kishor Joshi, Chief Business Officer, TRS said in a statement.
According to the company’s press statement, the Indian market for teleradiology services is expected to grow in the next five years, due to the increased demand for radiology services in rural areas. Meanwhile, the scope of this market is still not determined, but it is estimated that the potential size of the Indian market for pure-play teleradiology services could be around 1000 Crores and global market would be more than USD 1 Billion in next five years growing at 15.3% CAGR. In the last five years, nearly eight states have developed tenders for teleradiology services, it stated.
The company also claimed that the global model of Teleradiology has also enabled it to be operationally efficient and mitigate dynamic market changes and impacts such as a pandemic. The company has been growing at close to 30 percent year on year.