Метрополитус Healthcare нацелена на рост маржинальности до 28% и расширение сети до 1000 центров

Metropolis Healthcare is sharpening its acquisition strategy as it prepares for its next phase of growth, while also expanding into smaller towns, preventive healthcare adjacencies and specialty diagnostics, with a target of lifting EBITDA margins to 27-28 percent over the next three years, management told Moneycontrol. The diagnostics chain, which reported revenue of Rs 1,646 crore in FY26, said inorganic growth will remain an important lever, but only where acquisitions strengthen its geographical presence, scientific capabilities or create turnaround opportunities. The company has ruled out chasing expensive assets merely to add scale. “We don't see the diagnostics industry as an inorganic industry at all. Actually, it is an industry which is built on the back of execution on the ground,” Executive Chairperson Ameera Shah told Moneycontrol. “The key in our business is actually not growth through acquisition. It is getting an acquisition to make that acquisition grow much faster under you than it was growing under the person you acquired it from.” Metropolis has integrated five acquisitions so far, including Core Diagnostics, Hitech, DAPIC (Dehradun), Scientific Pathology (Agra) and Ambika (Kolhapur). The company said future deals will largely focus on strong regional consumer brands, ethical and scientifically credible businesses, or specialised capabilities that can be scaled across its platform. Its acquisition of Core Diagnostics in oncology and genomics is being used as the benchmark for future transactions. Shah said the company particularly likes businesses with strong consumer franchises in underpenetrated markets, citing recent deals in Agra and Dehradun. Another category comprises specialised but underperforming assets that can be turned around using Metropolis' network and operational expertise. “But what you will probably not see us do is just buy big-brand businesses at expensive valuations and then just leave them the way they are,” she said. Three-year roadmap The acquisition strategy is part of a broader three-year roadmap that management believes can deliver annual revenue growth of 14-15 percent while expanding EBITDA margins from 24.4 percent in FY26 to 27-28 percent. Importantly, the guidance assumes no meaningful price hikes and is largely driven by volumes, mix improvement and operating leverage. Managing Director Surendran Chemmenkotil said Metropolis' next phase will be powered by five growth engines: network expansion, TruHealth wellness offerings, specialty diagnostics, technology-led direct-to-consumer growth and selective acquisitions. The company plans to increase its owned centres to 1,000 from around 750 over three years and improve the centre-to-lab ratio from 24:1 to 35:1, allowing existing laboratory capacity to handle substantially higher volumes. It also plans to create about 100 mini-hubs offering pathology, basic radiology, consultations and other healthcare services. “Currently we have built around 210 labs, 5,000 centres in 750 towns. We will continue to improve the lab-to-centre ratio from 24:1 to 35:1. That means almost 50 percent more capacity utilisation,” Surendran said. Specialty diagnostics remains another major pillar. Metropolis wants specialty testing to contribute about 45 percent of revenue, up from around 40 percent currently, helped by genomics, oncology and precision medicine. The company added more than 300 tests last year, most of them in genomics. Technology and automation will also be central to margin expansion. The company is investing in AI-driven workflow automation, platform standardisation, vendor consolidation and digital customer engagement to improve productivity without materially increasing manpower. “The whole organisation will completely transform into a technology-led organisation,” Surendran said. “We will bring in AI to improve productivity, workflows and turnaround time.” Another key margin lever is Core Diagnostics. The oncology-focused acquisition was loss-making when acquired, but management expects it to reach company-level profitability over the next two years. Shah noted that while Metropolis reported a consolidated EBITDA margin of 24.4 percent in FY26, the standalone business delivered 25.9 percent. The company intends to fund acquisitions primarily through internal accruals and existing cash reserves while maintaining its dividend policy. Debt would be considered only for a significantly larger transaction. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated! Find the best of Al News in one place, specially curated for you every weekend. Stay on top of the latest tech trends and biggest startup news.