Super Religare Laboratories (SRL) is a diagnostics company operating pathology and radiology services via reference laboratories, centres of excellence, network and collection centres. As of December 31, 2010 the network comprised eight reference laboratories, seven centres of excellence, 181 network laboratories (164 pathology and 17 radiology), 15 wellness centres and 888 collection centres, with several labs owned, managed, joint-ventured or franchised. SRL strengthened its radiology presence through a $128 million acquisition of Piramal Diagnostic Services two years prior, a deal that made it the biggest diagnostics chain in the country. The company is working with annualised revenues close to Rs 600 crore. Management has pursued inorganic growth and had planned a public issue whose filing was pushed back after a series of shareholding changes; proceeds were intended partly to retire liabilities from the Piramal acquisition and reduce debt. Recent promoter share sales to Fortis Healthcare and multiple institutional investments have altered SRL’s ownership and driven the company to seek private-equity funding to cover immediate funding needs and fuel further inorganic expansion.

Total raised

$30M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2012