Thyrocare

From Wikipedia, the free encyclopedia
Thyrocare Technologies Ltd.
THYROCARE
TypePublic company
BSE: 539871[1] NSE: THYROCARE[2]
IndustryHealthcare
Founded1996
Founder
Headquarters
Navi Mumbai, Maharashtra
,
India
Number of locations
1122 Outlets[3] (2021)
Area served
India
Nepal
Bangladesh
Middle East
Key people
Hardik Kishor Dedhia
Dharmil Nirupam Sheth
Dhaval Rajesh Shah
RevenueIncrease ₹ 486.55 crores
(US$ 65.9 million)[4] (2021)
OwnerPharmEasy (66.1%)
Number of employees
2000+[5] (2021)
Parent (66.1%)
Websitewww.thyrocare.com

Thyrocare Technologies Limited is an Indian multinational chain of diagnostic and preventive care laboratories, headquartered in Navi Mumbai, Maharashtra.[3] The company has a total of 1,122 outlets (As of 2021) and collection centers across India and parts of Nepal, Bangladesh and the Middle East.[3][4]

On Jun 26, 2021, Indian E-pharmacy and online healthcare aggregator PharmEasy's parent API Holdings acquired acquired a 66.1% controlling stake in Thyrocare,[6] making it the first startup in Indian history to acquire a publicly listed company.[7][8][9]

History[]

Thyrocare was started in 1996, by A. Velumani, ex-scientist at Bhabha Atomic Research Centre (BARC), Mumbai, Maharashtra. The first laboratory was set up in Byculla, Mumbai, with an initial focus on thyroid testing considering a huge potential for thyroid testing in India.[4][10] The laboratory was later shifted to a larger set-up, its main headquarters and central processing laboratory at Navi Mumbai. The company introduced a franchisee model for procuring samples to be sent for testing at their central laboratory in Mumbai.[10]

Thyrocare initially started with thyroid testing but now has more than 350+ tests and packages to encourage effective testing and more than 83 odd profiles comprising different tests for preventive care and wellness under its brand Aarogyam. Thyrocare also played one of the biggest role in India during the COVID-19 surge, it carried out more than 8 Lacs test a month. [11] Thyrocare's 68% of business comes from the DSA model to promote its services.

In 2010, Thyrocare raised its first private equity funding with INR 188 crore from New Delhi-based CX Partners for a 30% stake.[12] It set up a subsidiary, Nuclear Healthcare Limited, which uses PET-CT to detect and locate cancerous cells.[11][13][14]

In 2014, Siemens Healthcare's Diagnostic Division installed its world's largest laboratory automation track – Aptio Automation – at its laboratory in Mumbai. Thyrocare became the first laboratory in India to install this automation by Siemens.[15]

In 2021, PharmEasy parent API Holdings acquired a 66.1% stake in Thyrocare Technologies Ltd.[16]

Certifications[]

  • Grade A by CRISIL for Very Good Quality of delivered service.[17]
  • ISO 9001:2008 certification.[18]
  • National Accreditation Board for Testing and Calibration Laboratories (NABL).

Finances[]

As of November 2021, Thyrocare Technologies has an asset of 445.46cr[19] (In Rupee). In April 2016, Thyrocare made its initial public offering (IPO). The Economic Times reported with "NSE showed the issue received cumulative bids for 55.08 crore shares, or 73.24 times the total issue size of 75.21 lakh shares on Friday."[20] Thyrocare is the second diagnostic firm in India to be listed so far.[13]

References[]

  1. ^ "BSE Listing". bseindia.com. Retrieved 24 September 2016.
  2. ^ "NSE Listing". nseindia.com. Retrieved 24 September 2016.
  3. ^ a b c "Thyrocare Technologies IPO today: 10 things to know before investing". The Financial Express. 27 April 2016. Retrieved 15 September 2016.
  4. ^ a b c "Thyrocare Technologies profit, revenue, etc!". economictimes.indiatimes.com. The economic times India. 30 June 2021. Retrieved 30 June 2021.
  5. ^ "Owler Profile: Thyrocare". Owler. 30 June 2021. Retrieved 30 June 2021.
  6. ^ Dhanjal, Swaraj Singh (2021-06-25). "PharmEasy to acquire 66% stake in diagnostic chain Thyrocare for ₹4,500 cr". mint. Retrieved 2021-09-01.
  7. ^ "PharmEasy opens up quicker public listing options with its acquisition of Thyrocare". Business Insider. Retrieved 2021-07-03.
  8. ^ "PharmEasy To Acquire 66.1% Stake In Thyrocare For Rs 4,546 Crore". Moneycontrol. Retrieved 2021-07-03.
  9. ^ Datta, PT Jyothi. "PharmEasy buys out Thyrocare for ₹4,546 cr". @businessline. Retrieved 2021-07-03.
  10. ^ a b "Thyrocare Technologies: Testing new waters in medical diagnostics, Hidden Gems". forbesindia.com. 10 September 2015. Retrieved 24 September 2016.
  11. ^ a b "Thyrocare: Strong base, multiple new triggers". Business Standard. 25 April 2016. Retrieved 15 September 2016.
  12. ^ "A panacea for the masses". thesmartceo.in. The Smart CEO. 1 December 2012. Retrieved 15 September 2016.
  13. ^ a b "Thyrocare: Strong base, multiple new triggers". SmartInvestor.in. SmartInvestor. 26 April 2016. Retrieved 16 September 2016.
  14. ^ "Nueclear Healthcare Limited Secures INR 22 Crores From Norwest Venture Partners (NVP)". marketwired. 18 January 2013. Retrieved 16 September 2016.
  15. ^ "Siemens installs 'Aptio automation solution' lab at Thyrocare, Diagnostics". Pharmabiz.com. 22 July 2014. Retrieved 16 September 2016.
  16. ^ "EXCLUSIVE | API Holdings' Acquisition Of Thyrocare Will Create One-stop Shop For Healthcare Solutions, Says PharmEasy's Siddharth Shah". Moneycontrol. Retrieved 2021-12-09.
  17. ^ "CRISIL assigns Grade A to Thyrocare Laboratory". 30 October 2006. Retrieved 16 September 2016.
  18. ^ "Thyrocare IPO opens on Apr 27, Price Band fixed at Rs 420 to Rs 446 per share". freepressjournal.in. The Free Press Journal. 21 April 2016. Retrieved 16 September 2016.
  19. ^ "Thyrocare Technologies Balance Sheets, Financial Statements". The Economic Times. Retrieved 2021-11-04.
  20. ^ "Thyrocare Technologies IPO draws huge response, subscribed 73.24x". ET Markets. 30 April 2016. Retrieved 16 September 2016.
Retrieved from ""