Aster enters diagnostic services business in IndiaAugust 5, 2019
Aster DM Healthcare has entered the healthcare diagnostic services business in India as Aster Laboratories.
Initially, two laboratories will be operational in Bengaluru from the second quarter of financial year of 2020.
A centralised pathology lab processing facility will be set-up in Bengaluru, along with a satellite lab in the initial stages. By the end of the year, the target is to have 1 reference lab, 8 satellite labs and 13 patient experience centres – mainly in the states of Karnataka and Kerala.
Aster Laboratories will aim to build a clinical testing network through a reference laboratory and a hub and spoke model to ensure specimen integrity and quick turnaround times from the satellite laboratory and patient experience centres.
By financial year 2021, the hub and spoke model will be extended to other South Indian states where Aster already has a presence through local hospitals – Andhra Pradesh, Telangana, Tamil Nadu and Maharashtra.
A total investment of Rs 40 crores is planned to be made over the next two years. The company will also look at strategic acquisitions to expand this business and additional capital will be deployed accordingly.
“Instead of the traditional ‘Just Screening’ only model, we shall also be focusing on ‘Preventive Healthcare’ extending the service to the homes of our customers through proper logistic arrangements,” said Dr Azad Moopen, founder chairman and managing director, Aster DM Healthcare.
With only 5% organized businesses in the area of diagnostics in India, think there is a significant opportunity for consolidation, he added.