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Agilus Diagnostics

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Agilus Diagnostics
FormerlySRL Limited[1]
Company typePublic
IndustryDiagnostics
Founded07 July 1995; 29 years ago (07 July 1995)
Headquarters
Gurgaon, Haryana, India
Number of locations
418+
Area served
India, Dubai, Afghanistan and Nepal
Key people
Anand Kuppuswamy (MD & CEO)[2]
ServicesPathology, Radiology
RevenueIncrease ₹1,605 crore (US$190 million) (FY22)[3]
Increase ₹425 crore (US$51 million) (FY22)[3]
Owners
Subsidiaries
  • Agilus Pathlabs Reach Limited
  • DDRC Agilus Pathlabs Limited
Websiteagilusdiagnostics.com

Agilus Diagnostics Limited (formerly known as SRL Limited) is an Indian multinational diagnostics company providing diagnostic services in pathology and radiology. Agilus Diagnostics has its headquarters and corporate office in Gurgaon.

Reason of Name Change

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In 2012, company "Super Religare Laboratories Limited's Name changed as "SRL Limited" without obtained Brand License from SRL Group company and misused SRL Diagnostics Trademark since 2012-2023. Further, SRL Limited fail to comply brand license agreement or trademark assignment with SRL Group and violated the company act 1956 section(21) (Authentication of documents, proceedings and contracts. (b) contracts made by or on behalf of a company, may be signed by any key managerial personnel or an officer an officer or employee of the company of the company duly authorized by the Board in this behalf) Super Religare Laboratories Limited Provide False Statement to Ministry of Corporate Affairs during Rename the Company from "Super Religare Laboratories Limited" to "SRL Limited. due to Brand litigation with SRL Group company, SRL Limited's Board of Director and Company Management decide to rename the company as Agilus Diagnostics Limited. Moreover; SRL Diagnostics is a Registered Trademark owned by SRL Group company and provide Brand License to business partners or diagnostics labs in India. SRL Group provide Brand licensing services in Healthcare Sector and the SRL Group companies engage in Diagnostics Lab management as B2B (CLM HLM PLM).[5]

History

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In 1995, The company was incorporated on dated 07/07/1995 as "Specialty Ranbaxy Limited" is a joint venture equally owned by Specialty Laboratories Inc. a single largest source of specialized medical testing in the USA, and "Ranbaxy Laboratories Limited", the leading Indian pharmaceutical company by brothers Shivinder Mohan Singh and Malvinder Mohan Singh. Both brother is a businessman who is now under arrest for criminal breach of trust and financial fraud, both has many cases of financial fraud registered against him. In the early hours of 11 October 2019, Malvinder was arrested near Ludhiana, India, on account of a Rs. 740 crore fraud case against him and his brother Shivinder.[6]

Moreover; In 2001 Company Name Changed From "Specialty Ranbaxy Limited" To " SRL Ranbaxy Limited". In 2008 Company Name Changed From "SRL Ranbaxy Limited" To "Super Religare Laboratories Limited". In 2012 Company Name Changed From "Super Religare Laboratories Limited" To "SRL Limited".[7] Finally, In 2023 Company Name Changed From "SRL Limited" To "Agilus Diagnostics Limited".[8]

The company name changed more than 5 Times in past 25 years and Agilus Diagnostics Limited enjoying benefits without obtained Brand License agreement from SRL Group Company. Always kept pending or Incomplete the business formalities with SRL Group and failed to renew the Brand license agreement, not make payment towards using Brand name SRL Diagnostics since 2012-2023, and changes the Name frequently.[9]

Business Acquisition

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In 2010, Super Religare Laboratories Limited acquired Piramal Diagnostic Services and its network of 107 laboratories from Piramal Healthcare for ₹600 crore.[10]

In 2011, Fortis Healthcare completed the acquisition of 74.59% stake in SRL.[11] After being acquired by Fortis, the company rebranded itself as SRL Diagnostics.[12]

In 2021, Super Religare Laboratories Limited acquired the remaining stake in its Kerala-based joint venture, DDRC, for ₹350 crore. With the addition of DDRC's 220 labs to its lab network, Super Religare Laboratories Limited became the biggest pathology lab chain in India with a total of 430 labs.[13]

In 2023, SRL Limited was involved in brand litigation and failed to meet legal compliance requirements. As a result, SRL Group did not grant the brand license for "SRL Diagnostics" to SRL Limited. Consequently, SRL Limited was unable to use the "SRL Diagnostics" brand and changed its company name to Agilus Diagnostics Limited. [14]

Operations

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Agilus has two reference labs one in Goregaon (Mumbai), and one in Gurgaon (Haryana), India. The company has more than 418 networking laboratories,[15] including four "Centers of Excellence", 26 radiology/imaging centers, 40 NABL accredited, and four CAP-accredited labs and a footprint spanning over 9000 collection points in India.[16] Along with this, the company also has large labs in Dubai, Sri Lanka and Nepal, and about 70 different collection points in various countries outside India.[17]

Agilus Diagnostics claims to offer more than 3,500 different tests in pathology, radiology, wellness, occupational health and clinical trials and also carries out more than 107,000 tests in a day.[18] Agilus Diagnostics operates diagnostic centres, collection centres, and laboratories. Agilus Diagnostics also offers tests in pathology covering biochemistry, immunology, herpetology, clinical pathology, histopathology and immunohistochemistry, microbiology, molecular biology, cytogenetics, and flow cytometry.[19]

References

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  1. ^ Unnikrishnan, C. H. (22 August 2008). "SRL Ranbaxy mulls merger with Fortis Health". Mint. Retrieved 9 January 2023.
  2. ^ V, Narayanan (9 June 2022). "SRL Diagnostics to set up central reference lab in Chennai". The Hindu Businessline. Retrieved 9 January 2023.
  3. ^ a b "SRL Limited". CRISIL. Retrieved 6 January 2023.
  4. ^ "Agilus Diagnostics withdraws IPO plans, says SEBI". Moneycontrol. 22 February 2024. Retrieved 23 February 2024.
  5. ^ "SRL Diagnostics - India's Leading Diagnostics Network | Pathology & Radiology Service Provider". SRL DIAGNOSTICS. Retrieved 2024-10-30.
  6. ^ "Ranbaxy Ex-Promoters Malvinder, Shivinder Singh Arrested In Fraud Case". NDTV.com. Retrieved 2024-10-30.
  7. ^ Vijayraghavan, Kala (2012-08-08). "Super Religare Laboratories rechristens itself as 'SRL Diagnostics'; launches new logo". The Economic Times. ISSN 0013-0389. Retrieved 2024-10-30.
  8. ^ Pilla, Viswanath (2023-05-27). "SRL Diagnostics rebrands as Agilus Diagnostics". The Economic Times. ISSN 0013-0389. Retrieved 2024-10-30.
  9. ^ "SRL's rebranding to Agilus under scanner in Delhi HC". BusinessLine. 2023-05-31. Retrieved 2024-10-30.
  10. ^ "Piramal Healthcare completes sale of diagnostics arm to SRL". Business Standard India. 21 August 2010. Retrieved 9 January 2023.
  11. ^ "Fortis completes acquisition of 74.59% stake in SRL". Business Standard India. 12 May 2011. Retrieved 9 January 2023.
  12. ^ Vijayraghavan, Kala. "Super Religare Laboratories rechristens itself as 'SRL Diagnostics'; launches new logo". The Economic Times. Retrieved 9 January 2023.
  13. ^ Jayan, T. V. (30 March 2021). "Super Religare Laboratories Limited becomes India's largest pathlab chain after acquiring DDRC". The Hindu Businessline. Retrieved 9 January 2023.
  14. ^ Pilla, Viswanath (2023-05-27). "SRL Diagnostics rebrands as Agilus Diagnostics". The Economic Times. ISSN 0013-0389. Retrieved 2023-12-09.
  15. ^ "Agilus Diagnostics".
  16. ^ "According to Ibef.org".
  17. ^ "Microsoft News".
  18. ^ "According to IBEF".
  19. ^ "Bloomberg". Bloomberg News.
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