July 8: Leading digital health platform, RaphaCure has emerged as the largest diagnostics service provider in India, with more than 270 centres offering various pathology tests after the company’s strategic partnerships with diagnostic labs across India. The tie-up has already helped in serving the needs of patients in the tier-III cities and is a gateway to the North-Eastern Region of India and is expected to increase further.
Under the strategic tie-up, RaphaCure will now manage the diagnostics business of partners in all its 270 plus clinics. This is likely to provide a great fillip to RaphaCure’s reach in the burgeoning diagnostics space. Now, around 25 lakh users of these diagnostic centres in more than 300 cities and 18,000 pin codes will get benefitted from RaphaCure’s digital platform.
RaphaCure (Cure and Care Primary Private Limited), with its marquee client base and presence across India, will now be a dominant player in the growing diagnostics space. While its user base is likely to grow by 20 times, top-line growth is expected to be 200 per cent in the near term. This tie-up will further enable RaphaCure to offer care beyond the metro cities and be able to create a wider ecosystem for serving the community better.
The market size of the diagnostics industry is estimated to reach $32 billion by the end of 2022 and is likely to grow at a CAGR of 11 per cent in the next five years. The diagnostics segment is also one of the most profitable segments of the Indian healthcare industry, with a net margin of 25-30 per cent.
Commenting on the strategic partnership, Founder and MD of RaphaCure, Jeyakumar, said,” Importance of preventive healthcare through early diagnosis has increased manifold during this COVID pandemic. We are excited to partner with different diagnostic chains who are regional players in providing technology-led, affordable diagnostics services to users across the country that will further strengthen the preventive healthcare ecosystem.”
The diagnostic business reach is further strengthened with the ability of RaphaCure’s ecosystem of 1000+ Phlebotomists who extend the last mile reach and provide a seamless and painless home collection of samples, and the reports are delivered to their inbox. The hybrid act of premises and online ensures the patients are the true winners.
RaphaCure is a leading healthcare management company in India that provides a host of services, including telemedicine, diagnostic tests, COVID care, domiciliary care and wellness solution to individual patients and corporate firms. It has developed a hybrid service model comprising both online and on-premises to serve people at their nearest pin codes. Headquartered in Bangalore, the company has tie-ups with more than 1,500 hospitals across India. It also counts more than 250 marquee corporate houses as its clients in the wellness services segment.
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