Shares of Krsnaa Diagnostics soared 4 percent on September 26, a day after the company announced plans to acquire a 23.53 percent stake in start-up Apulki Healthcare for exclusive rights to provide diagnostics services.
Apulki Healthcare, incorporated in 2022, is engaged in establishing, operating and maintaining hospitals, focusing on oncology and cardiology, primarily under public-private partnership. The acquisition will be completed within the next three months.
At 09.54 am, shares of Krsnaa Diagnostics were trading at Rs 854.40 on the NSE.
The diagnostics company, which operates a unique business model under the PPP (public-private partnership) arrangement stands the chance to gain the most from the government’s focus on ‘healthcare for all’, driven by its competitive pricing and established presence in the under-penetrated Tier II/III markets.
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Over the past 12 months, Krsnaa has launched 15 new CT/MRI centers, 21 pathology labs, around 805 pathology collection centers, and 63 tele-reporting centers.
On the orders front, Krsnaa recently secured two significant radiology tenders in Maharashtra and Madhya Pradesh, involving the installation of 23 MRIs and 17 CT scans across both states.
Krsnaa is currently setting up a total of 57 radiology centers and has recently been awarded a tele-reporting contract for radiology services from Bhabha Atomic Research Centre (BARC) hospital in Mumbai.
With these tender wins for CT scans and MRIs, FY25 is expected to see further growth in radiology projects.
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