Metropolis Lab

Metropolis Labs is a chain of diagnostic companies, 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, as a single laboratory with a revenue of about US$1.5 million and 4500 employees.

Metropolis Healthcare
TypePublic
NSE: METROPOLIS
BSE: 542650
ISININE112L01020
IndustryHealth and Medical Services
Founded1980
FounderDr. Sushil Kanubhai Shah
Headquarters
Mumbai, Maharashtra
,
India
Area served
Key people
[1]
ServicesHealth care management
RevenueINR 856 Crore (2020)[2]
Total assetsUS$3.5 billion (2015)[3]
Number of employees
4500 (2015) [3]
Websitewww.metropolisindia.com

The company went public in April 2019.[6]

History

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, and 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 set about in its international expansion in the year 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.

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]

Funding

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.[17] The Shah family purchased the exiting stake from Warburg Pincus for a healthy return on investment.[18] The company is backed by several investors including Carlyle Group, CA Lotus Investments,[19] and Kohlberg Kravis Roberts (KKR). In 2015, KKR backed Ameera Shah through ₹5.6 billion (equivalent to ₹6.8 billion or US$95 million in 2019) promoter debt funding.[20]

In April 2019, the company raises 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.[21]

Financials

FY 2020, The Metropolis Healthcare revenue grew by 12.6 percent to reach INR 856 Crore. Despite the Covid-19 outbreak, the company registered 15.1% growth in its revenue for Q4F20 and 15.9% in FY20 adjusting Covid-19 impact.[2]

Awards and recognition

Metropolis was awarded the Diagnostic Services Company of the Year by Frost & Sullivan in 2010.[22] In 2014, it was awarded India's Most Promising Brand by the World Consulting and Research Corporation, which was evaluated by Ernst & Young.[23][24] 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.[25][26] in 2015, Shah was awarded as one of the Asia's Power Business Women by Forbes.[27]

Philanthropy

In April 2017, Metropolis launched a scholarship and mentorship program, called "Medengage", for undergraduate and postgraduate medical students across India.[28] In July 2017, Metropolis and the PCOS Society of India launched a Polycystic Ovarian Syndrome (PCOS) awareness campaign called "Conquer PCOS".[29] In August 2018, Metropolis initiated a "Umbrella Handshake" campaign to create awareness about health. The company donated ₹2 million (equivalent to ₹2.2 million or US$30,000 in 2019) towards this, and other social welfare initiatives. Metropolis partnered with We Foundation and Red FM, to help in public outreach and campaign awareness.[30]

See also

References
  1. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=11371299
  2. "Metropolis Healthcare records consolidated revenue growth of 12.6% in FY20". Health Care Radius. Retrieved 1 June 2020.
  3. Raghunathan, Anuradha (March 25, 2015). "How Ameera Shah powered the rise of Metropolis Healthcare". Forbes India.
  4. Leo, Leroy (November 12, 2019). "Diagnostic major Metropolis Healthcare Q2 net profit jumps 44% to ₹43 cr". Livemint.
  5. Batra, Ekta; Nair, Prashant (May 14, 2019). "Metropolis Healthcare's business outlook very positive for FY20, says MD Ameera Shah". CNBC TV18.
  6. Sultana, Nasrin (April 15, 2019). "Metropolis Healthcare lists at 9% premium to issue price". Livemint.
  7. "Company Overview of Metropolis Healthcare Limited". www.bloomberg.com. Retrieved 2018-11-22.
  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".
  10. "Metropolis Healthcare expands its footprints in Mauritius". 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. http://www.thetimesofafrica.com/content/metropolis-healthcare-full-swing
  13. "Metropolis Healthcare plans to add 800 centres, 10 labs by FY19-end". The Economic Times. 2018-03-25. Retrieved 2018-11-23.
  14. "NACO partners with Metropolis Healthcare for HIV Viral Load Testing". Retrieved 2018-11-23.
  15. K. Tiwari, Ashish (October 3, 2019). "Diagnostic firms Metropolis, Dr Lal PathLabs on M&A spree". DNA India.
  16. Leo, Leroy (October 1, 2019). "Metropolis Healthcare buys 4 new labs in Surat". Livemint.
  17. Editorial, Reuters. "Warburg Pincus invests $85 mln in Metropolis Healthcare".
  18. Balakrishnan, Reghu (10 April 2015). "Warburg Pincus sells 27% stake in Metropolis back to Shah family" – via Business Standard.
  19. "D-Street beckons Metropolis Healthcare". Retrieved 2018-11-23.
  20. "The KKR way to smart returns". Retrieved 2018-11-23.
  21. Shah, Amit (April 2, 2019). "Metropolis Healthcare raises Rs 530 crore from anchor investors". The Economic Times.
  22. "Past Award Recipients". Frost & Sullivan. Retrieved 2018-11-23.
  23. "Metropolis Healthcare Bags "India's most promising brand award"". Retrieved 2018-11-23.
  24. "Metropolis Healthcare Bags "India's most promising brand award" – Silicon City News". www.siliconcitynews.com. Retrieved 2018-11-23.
  25. "Ameera Shah - Most Powerful Women in 2018 - Fortune India". www.fortuneindia.com. Retrieved 2018-11-23.
  26. "Ameera Shah - Most Powerful Women in 2017 - Fortune India". www.fortuneindia.com. Retrieved 2018-11-23.
  27. Scott, Mary E. "Asia's Power Businesswomen, 2015: 12 To Watch". Forbes. Retrieved 2018-11-23.
  28. "Metropolis Healthcare announces medical talent outreach programme". Retrieved 2018-11-23.
  29. "Metropolis Healthcare & PCOS Society of India launch 'Conquer PCOS'". Retrieved 2018-11-23.
  30. www.ETBrandEquity.com. "Metropolis Healthcare's new #Umbrella Handshake campaign aims to spread the message of 'Wellness' - ET BrandEquity". ETBrandEquity.com. Retrieved 2018-11-23.
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