Clinitech Lab IPO

About Clinitech Laboratory Limited

Clinitech Laboratory Limited, founded in 1990, specialises in diagnostic and healthcare services. It has eight diagnostic centers located around Thane and Navi Mumbai. Leveraging over 30 years of experience from its promoters, the company performs more than 3,00,000 tests annually using advanced technology in laboratories accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL).

The services cover a broad spectrum of diagnostic tests. Biochemistry tests delve into the molecular and biochemical processes that underpin various diseases. Serology tests focus on analysing blood serum to detect antibodies related to infections like HIV, Hepatitis, and COVID-19. Microbiology tests involve examining microorganisms such as bacteria and viruses to diagnose and monitor infections, including bacterial and viral cultures.

Hematology tests assess blood samples to diagnose and manage blood disorders such as anemia and leukemia. Molecular biology studies DNA, RNA, and proteins to uncover the molecular basis of diseases. Immunology tests evaluate the immune system’s response to diagnose conditions like autoimmune disorders and allergies. Histopathology involves the microscopic examination of tissue samples to identify abnormalities and diagnose diseases.

The company’s diagnostic facilities in Airoli are recognised for their adherence to high standards under ISO 15189:2012, further underscoring their commitment to quality. As of May 31, 2024, Clinitech Laboratory Limited employs 85 professionals dedicated to providing precise and reliable diagnostic services.

Industry Outlook:

1. The Indian diagnostic industry, valued at approximately USD 9 billion, is anticipated to grow at a compound annual growth rate (CAGR) of about 10% over the next five years. This expansion is driven by increasing lifestyle diseases, a rise in preventive testing, and growing healthcare services and insurance.
2. Despite over 1,00,000 labs in India, the diagnostic industry remains fragmented, with significant room for consolidation. Major players hold a relatively small market share, presenting opportunities for national players to expand and capture a larger share.
3. The diagnostic sector is witnessing a shift towards organised players due to their superior services and broad test offerings. This shift, combined with a rising trend in preventive check-ups and digital engagement, is expected to benefit large, well-established players in the industry.

Clinitech Laboratory Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Utilise ₹498.67 million to open and enhance new diagnostic centres, broadening the company's reach and services.
2. Allocating the remaining ₹41.33 million for general corporate purposes.

Peer Details

The following are the listed peers of Clinitech Laboratory Limited:

1. Dr. Lalpath Labs
2. Thyrocare
3. Krsnaa Diagnostics

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Contact Details of Clinitech Laboratory Limited IPO

• Registered office: AL-1/545, Sector 16, Airoli, Opposite Radhikabai Meghe Vidyalaya, Navi Mumbai, Thane - 400708, Maharashtra, India
• Phone: +91 22 45003240/ +91 9004072223
• E-mail: ipo@clinitechlab.com