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source: Business Standard – 07-Nov-2016

Diagnostic laboratory chain Thyrocare Technologies is targeting revenue of Rs 1,000 crore by 2020 and plans to invest Rs 50 crore every year till then .

The company was expanding its network of laboratories, said A Velumani, chairman, Thyrocare Technologies.

Speaking to reporters on the sidelines of TiECON Chennai 2016, he said, “I have 1,200 franchisees, I want to take them to 5,000 by 2020 and I visualise a Rs 1,000 crore turnover by then.”

Franchisees will mainly cover taluk headquarters and cities. One franchisee is needed for 500,000 people.

By the end of 2020, Diagnostic laboratory plans to have a network of 25 laboratories across the country.

Thyrocare Technologies now has a laboratory each in Delhi, Mumbai, Kolkata, Hyderabad, Bhopal, Bengaluru and Coimbatore. Velumani said that going forward company would add five laboratories every year and invest Rs 50…