The Suraksha Diagnostic IPO will open for subscription tomorrow, Friday, November 29. The company offers a complete range of services, including pathology and radiology tests, as well as medical consultations, all through its wide network of facilities. This makes it easy for customers to access healthcare services in one place.
As of June 30, 2024, Suraksha Diagnostics operates a main laboratory and eight smaller satellite labs at diagnostic centres. It also has 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection points, mostly run through franchises. Their network covers West Bengal, Bihar, Assam, and Meghalaya, providing better access to testing services.
In the three months ending in 2024, Suraksha Diagnostics conducted about 1.58 million tests and served 280,000 patients. A significant 95.34% of their revenue comes from their main region, which includes Kolkata and the surrounding areas.
The company uses a hub-and-spoke model for its operations. This means that the central lab (the hub) processes and analyzes samples, while smaller satellite labs (the spokes) collect and send samples to the central facility. This system improves efficiency and helps speed up test results.
Suraksha Diagnostics’ listed competitors include Dr. Lal PathLabs, Metropolis Healthcare, Thyrocare, and Vijaya Diagnostics, which all have higher price-to-earnings (P/E) ratios. Suraksha has seen strong growth, with its revenue increasing by 14.75%. More impressively, its profit after tax (PAT) surged by 281.32% from March 2023 to March 2024.
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