Dr Lal PathLabs

Dr Lal PathLabs
Private
Traded as BSE: 539524
NSE: LALPATHLAB
Industry Healthcare
Founded 1949
Founder Doctor S. K. Lal
Headquarters Delhi, India
Number of locations
 6[1]
Key people
 Dr Arvind Lal (Chairman), Dr Om Manchanda (CEO)
Revenue ₹659 crore FY2015 (558 Crore in FY 2014)[2]
Number of employees
 3,000 (2015)
Website www.lalpathlabs.com

Dr. Lal PathLabs Limited is an international service provider of diagnostic and related healthcare tests.[3] Based in Delhi, the company offers a broad range of tests on blood, urine and other human body viscera.

History

Dr. Lal PathLabs was started in 1949, by the late Dr. S. K. Lal.[4] The first laboratory was set up by Dr. Path in Delhi, India.[5] Dr. Lal was a Junior Doctor in the British Indian Army and studied pathology from the Armed Forces Medical College in Pune, with additional training in pathology at Cook County Hospital in Chicago.[6][7] The main operation of Dr. Lal Path Labs deals with the performing of diagnosis and testing, including routine tests (including blood tests), specialized tests (eg, viral and bacterial infection tests) and preventive screenings.[4]

In 2013, Dr. Lal PathLabs was awarded Best Diagnostic Service Company by VCCircle. VCCircle stated: "Dr Lal Path Labs has been able to create a brand with scale in a fragmented market. Dr Lal Path Labs is present in 800 cities with 2,000 collections centres, and caters to around 10 million patients a year."[8]

In 2014, Dr. Lal PathLabs acquired the APL Clinical Institute of Clinical Laboratory & Research Private Limited.[9]

Controversies

Zika outbreak

While Zika has not been reported in India (as of 6 February 2016), on 3 February 2016, Dr. Lal PathLabs and other competing pathology labs announced they were preparing Zika test kits.[10] Dr. Lal PathLabs reported they plan to sell their kits for Rs 4500 (€60). However, several days later IndiaToday reported: "the Union Ministry of Health pulled up private players, saying they cannot cash in on a public health emergency" and also reported that Dr. Vandana Lal (Executive Director of Dr. Lal PathLabs) stated: "We don't want to talk on this matter. We don't have any tests for Zika virus and we are also not importing any test kits for the same. If at all we plan to do something, we will take the government's prior permission."[11]

HIV diagnosis

In 2003, Dr. Lal PathLabs allegedly diagnosed an Army Hospital Paediatric Specialist as being HIV Positive. The New Delhi Consumer Disputes Redressal Forum ordered Dr. Lal PathLabs to pay Rs 3.5 lakh (€4600) and Rs 50,000 (€650) in court costs to retired Major Dr Gaitry Kolley.[12]

Infrastructure

The company has 170 laboratories and diagnostic centres with approximately 1500 collection centres across India.[1] They have also worked with BD India to open a "Centre of Excellence in Phlebotomy", a centre for training healthcare in the process of safely collecting blood samples.[13]

Laboratory Accreditations

Awards and Recognition

Finances

The Economic Times reported "... Dr Lal PathLabs on Wednesday made stellar debut on the bourses, by listing at a premium of up to 31 per cent on the BSE".[19] Dr Lal PathLabs became the first company in this industry that came up with an IPO.[20] Dr Lal PathLabs revenue grew from Rs 45 crore (€6 million) in 2005 to Rs 100 crore (€13.1 million) in 2007 and Rs 550 crore (€72 million) in March 2014, it is expected to grow to Rs 12,000 crore (€1.6 billion by 2019–20[21]

Company officers

References

  1. 1 2 "Dr. Lal PathLabs – Find a Lab".
  2. ↑ "Dr Lal PathLabs: Diagnostics at a premium valuations". Business Standard.
  3. ↑ "Dr. Lal PathLabs Limited IPO (Dr. Lal PathLabs Private Limited IPO)-Issue Details". MoneyDial-The Online Way to In-line Your Investment. Retrieved 8 February 2016.
  4. 1 2 Sinho, Samved (3 December 2015). "Dr. Lal Path Labs IPO – Should you invest | Stock brokers". Indian Share Broker. Retrieved 8 February 2016.
  5. ↑ "Dr Lal PathLabs". India Brand Equity Foundation. Retrieved 8 February 2016.
  6. ↑ "Country's oldest path lab chain to go public with Rs 638-cr IPO". Orbit Collection – Live News in one line. Retrieved 8 February 2016.
  7. ↑ "Dr Lal PathLabs". CrunchBase. Retrieved 8 February 2016.
  8. ↑ "Take a look at winners of VCCircle Healthcare Awards 2013". VCCircle. Retrieved 10 February 2016.
  9. ↑ "Dr. Lal Pathlabs Ltd.". The Times of India. Retrieved 8 February 2016.
  10. ↑ "In India, Zika detection test to hit market by March, cost pegged at Rs 5,000". Hindustan Times. Retrieved 10 February 2016.
  11. ↑ "Health Ministry pulls up laboratories for trying to cash in on Zika scare". India Today. Retrieved 10 February 2016.
  12. ↑ "Lal Path Labs to pay Rs 4L to Dr for wrongly diagnosing HIV+". Deccan Herald. Retrieved 10 February 2016.
  13. ↑ "BD India and Dr Lal PathLabs launch COE in phlebotomy". The Financial Express. 8 July 2015. Retrieved 10 February 2016.
  14. ↑ "Organisers & Partners". eletsonline.com. Retrieved 14 February 2016.
  15. ↑ "DIRECTORY of ACCREDITED MEDICAL TESTING LABORATORIES" (PDF). nabl-india.org. Retrieved 14 February 2016.
  16. ↑ "Cnbc Tv18 Emerging India Award". moneycontrol.com. Retrieved 14 February 2016.
  17. ↑ "Take a look at winners of VCCircle Healthcare Awards 2013". VCCircle. Retrieved 14 February 2016.
  18. ↑ "FROST & SULLIVAN 4th ANNUAL INDIA HEALTHCARE EXCELLENCE AWARDS 2012". frost.com. Retrieved 14 February 2016.
  19. ↑ Mudgill, Amit (23 December 2015). "PathLabs, Alkem soar on stock market debut". The Economic Times. Retrieved 2 February 2016.
  20. ↑ "Accreditations and awards for Dr Lal Path Labs Franchise". TheIndianStockBrokers. Retrieved 7 February 2016.
  21. ↑ Chaudhary, Deepti (30 October 2014). "A hit with investors, Dr Lal PathLabs opts to go the IPO way". Forbes India. Retrieved 2 February 2016.
  22. ↑ "Dr. Lal Pathlabs Ltd.". The Times of India. Retrieved 7 February 2016.
  23. ↑ Nautiyal, Rohit (24 June 2013). "Never give up on credibility and fair business practices: Om Manchanda". Business Standard. Retrieved 2 February 2016.

External links

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