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Metropolis Healthcare
Company typePublic
NSE: METROPOLIS
BSE: 542650
ISININE112L01020
IndustryHealth and Medical Services
Founded1980
FounderDr. Sushil Kanubhai Shah
Headquarters
Mumbai, Maharashtra
,
India
Number of locations
124 clinical laboratories across 7 countries
Area served
Key people
ServicesHealth care management
RevenueIncrease ₹1,228 crore (US$140 million) (FY22)[2]
Increase ₹214 crore (US$25 million) (FY22)[2]
Number of employees
4600+ (2021)[3]
Websitewww.metropolisindia.com

Metropolis Healthcare, also known as Metropolis Labs, is an Indian multinational chain of diagnostic labs, with its central laboratory in Mumbai, Maharashtra. Metropolis Healthcare has a chain of 124 clinical laboratories[4] and 2400 collection centers across 7 countries including India.[5] The healthcare company was founded in 1980. The company went public in April 2019.[6]

History

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Metropolis was founded by Dr. Sushil Kanubhai Shah in 1980.[7] The healthcare company was started as a single diagnostic laboratory in Mumbai. Shah's daughter, Ameera Shah, took over the pathology business in 2001. The company started out by partnering with local and regional diagnostic chains, thereby spreading its reach across the country. Metropolis Healthcare has expanded into new service areas, like Clinical Research, Hospital Lab Management and Wellness Solutions, in the past decade.[8] Metropolis Healthcare began its international expansion in 2005 with Sri Lanka being the first market. It further expanded to UAE in 2006, followed by Kenya in 2013[9] and Mauritius[10][11] and Ghana[12] in 2014.

In February 2018, Metropolis partnered with National Aids Control Organisation (NACO) for a three-year project for diagnosis of HIV at 560 locations in India.[13][14] As of 2018, the diagnostic chain consists of 124 clinical laboratories and 2400 blood collection centers[5][7] across India, Ghana, Kenya, Zambia, Uganda, Mauritius and Sri Lanka.[citation needed]

In October 2019, Metropolis Healthcare acquired four individual laboratories, Doctor's Clinical Laboratory, Iyer Pathology Laboratory, Nagar Pathology Laboratory and Yash Clinical Laboratory, a subsidiary of Dr Lal PathLabs in Surat, Gujarat, for INR 18 crore. The acquisition was done in order to expand the penetration of Metropolis's wholly owned subsidiary Desai Laboratories.[15][16]

In October 2021, Metropolis completed the acquisition of South Indian diagnostic chain Hitech Diagnostic Centre and its subsidiary Centralab Healthcare Services for ₹636 crore.[17][18]

Funding

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ICICI Venture invested 35 crore in Metropolis in the year 2006 through its India Advantage Fund. In 2010, Warburg Pincus invested about $85 Million in Metropolis, paving a way for ICICI to exit.[19] The Shah family purchased the exiting stake from Warburg Pincus for a healthy return on investment.[20] The company is backed by several investors including Carlyle Group, CA Lotus Investments[21] and Kohlberg Kravis Roberts (KKR). In 2015, KKR backed Ameera Shah through ₹5.6 billion (equivalent to ₹8.5 billion or US$99 million in 2023) promoter debt funding.[22]

In April 2019, the company raised Rs 530 crore from 26 anchor investors, including Small Cap World Fund, Neuberger Berman Emerging Market Equity Fund, Fundsmith Emerging Equities Trust PLC and First State Indian Sub Continent Fund, among others.[23]

Awards and recognition

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Metropolis was awarded the Diagnostic Services Company of the Year by Frost & Sullivan in 2010.[24] In 2014, it was awarded India's Most Promising Brand by the World Consulting and Research Corporation, which was evaluated by Ernst & Young.[25][26] In 2018 and 2017, MD of Metropolis, Ameera Shah was ranked 36th and 46th respectively, in "India's Most Powerful Women in Business" by Fortune India Magazine.[27][28] in 2015, Shah was awarded as one of the Asia's Power Business Women by Forbes.[29]

Philanthropy

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In April 2017, Metropolis launched a scholarship and mentorship program, called "Medengage", for undergraduate and postgraduate medical students across India.[30] In July 2017, Metropolis and the PCOS Society of India launched a Polycystic Ovarian Syndrome (PCOS) awareness campaign called "Conquer PCOS".[31] In August 2018, Metropolis initiated an "Umbrella Handshake" campaign to create awareness about health. The company donated ₹2 million (equivalent to ₹2.7 million or US$31,000 in 2023) towards this and other social welfare initiatives. Metropolis partnered with We Foundation and Red FM, to help in public outreach and campaign awareness.[32]

See also

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References

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  1. ^ "Metropolis Healthcare Ltd - Company Profile and News - Bloomberg Markets". Bloomberg. Retrieved 11 October 2021.
  2. ^ a b "Metropolis Healthcare slips after Q4 PAT tumbles 35% YoY to Rs 40 cr". Business Standard India. 25 May 2022. Retrieved 13 January 2023.
  3. ^ Raghunathan, Anuradha (30 June 2021). "Owler: Metropolis Lab". Owler.
  4. ^ Leo, Leroy (12 November 2019). "Diagnostic major Metropolis Healthcare Q2 net profit jumps 44% to ₹43 cr". Livemint.
  5. ^ a b Batra, Ekta; Nair, Prashant (14 May 2019). "Metropolis Healthcare's business outlook very positive for FY20, says MD Ameera Shah". CNBC TV18.
  6. ^ Sultana, Nasrin (15 April 2019). "Metropolis Healthcare lists at 9% premium to issue price". Livemint.
  7. ^ a b "Company Overview of Metropolis Healthcare Limited". www.bloomberg.com. Retrieved 22 November 2018.
  8. ^ "SmartCEO – Magazine – Cover Story – STARTUP SCHOOL WITH METROPOLIS HEALTHCARE".
  9. ^ Raghunathan, Anu. "Metropolis' Chain of Diagnostics Labs Pushes for Growth Across India and Africa". Forbes.
  10. ^ "Metropolis Healthcare expands its footprints in Mauritius". Business Standard India. Press Trust of India. 16 October 2014 – via Business Standard.
  11. ^ "Diagnostic chain Metropolis expands overseas with a unit in Mauritius, eyes M&As in Africa". 15 January 2014.
  12. ^ "Metropolis Healthcare in Full Swing | The Times of Africa". www.thetimesofafrica.com. Archived from the original on 20 June 2015.
  13. ^ "Metropolis Healthcare plans to add 800 centres, 10 labs by FY19-end". The Economic Times. 25 March 2018. Retrieved 23 November 2018.
  14. ^ "NACO partners with Metropolis Healthcare for HIV Viral Load Testing". Retrieved 23 November 2018.
  15. ^ K. Tiwari, Ashish (3 October 2019). "Diagnostic firms Metropolis, Dr Lal PathLabs on M&A spree". DNA India.
  16. ^ Leo, Leroy (1 October 2019). "Metropolis Healthcare buys 4 new labs in Surat". Livemint.
  17. ^ "Metropolis Health completes acquisition of Hitech". Business Standard India. 23 October 2021. Retrieved 13 January 2023.
  18. ^ V, Narayanan (12 April 2022). "Hitech Diagnostic to add 40 centres in Tamil Nadu". The Hindu Businessline. Retrieved 13 January 2023.
  19. ^ Editorial, Reuters (25 June 2010). "Warburg Pincus invests $85 mln in Metropolis Healthcare". Reuters. Archived from the original on 21 December 2016. {{cite news}}: |first= has generic name (help)
  20. ^ Balakrishnan, Reghu (10 April 2015). "Warburg Pincus sells 27% stake in Metropolis back to Shah family". Business Standard India – via Business Standard.
  21. ^ "D-Street beckons Metropolis Healthcare". Retrieved 23 November 2018.
  22. ^ "The KKR way to smart returns". Retrieved 23 November 2018.
  23. ^ Shah, Amit (2 April 2019). "Metropolis Healthcare raises Rs 530 crore from anchor investors". The Economic Times.
  24. ^ "Past Award Recipients". Frost & Sullivan. Retrieved 23 November 2018.
  25. ^ "Metropolis Healthcare Bags "India's most promising brand award"". Retrieved 23 November 2018.
  26. ^ "Metropolis Healthcare Bags "India's most promising brand award" – Silicon City News". www.siliconcitynews.com. Retrieved 23 November 2018.
  27. ^ "Ameera Shah – Most Powerful Women in 2018 – Fortune India". www.fortuneindia.com. Retrieved 23 November 2018.
  28. ^ "Ameera Shah – Most Powerful Women in 2017 – Fortune India". www.fortuneindia.com. Retrieved 23 November 2018.
  29. ^ Scott, Mary E. "Asia's Power Businesswomen, 2015: 12 To Watch". Forbes. Retrieved 23 November 2018.
  30. ^ "Metropolis Healthcare announces medical talent outreach programme". Retrieved 23 November 2018.
  31. ^ "Metropolis Healthcare & PCOS Society of India launch 'Conquer PCOS'". Retrieved 23 November 2018.
  32. ^ www.ETBrandEquity.com. "Metropolis Healthcare's new #Umbrella Handshake campaign aims to spread the message of 'Wellness' – ET BrandEquity". ETBrandEquity.com. Retrieved 23 November 2018.
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