Mankind Pharma today said it has plans to invest Rs 305 crore in its new venture Pathkind Diagnostics in the next 4 years. Mankind Pharma is a USD 800 million pharmaceutical firm. “We are foraying into diagnostics space with new venture Pathkind Diagnostics. In the coming 4 years, the company has a plan to invest Rs 305 crore in its new venture, which will start its operation from August 2017,” a company statement said.
“As a part of the strategy, Pathkind would aim to reach out to the masses in tier 2/3 cities in India with the direct approach of providing easily accessible diagnostics services at affordable prices,” it added.
The decision to launch Pathkind is to focus on organic growth. The company is planning to open 12 large labs, 20 rapid response labs and 150 collection centres in 12 months and will operate on a three-tier model, said the statement.
With a reference lab in Gurgaon, it will also have multiple collection centres in small towns and villages, which will be connected through the network of labs. Initially, the company will start its operations from Uttar Pradesh and move to Uttarakhand, it added.
“Venturing into diagnostics is also a financially prudent decision as diagnostics model is asset light, with low gestation period and a lucrative Return On Investment,” Pathkind Managing Director CEO Sanjeev Vashishta said.