Nueclear Healthcare, a division of Mumbai-based diagnostic services provider Thyrocare Group, is investing Rs 1,000 crore in 120 molecular imaging centres, for which it is joining hands with medical technology major GE Healthcare.Aimed at early detection of cancer, these centres will come up in three phases ending 2015. While GE Healthcare will be the technology solutions partner in the venture, private equity CX Partners will fund 35 per cent of the total investment and the rest will be pumped in by Thyrocare and its promoter A Velumani.
“Last year Thyrocare had a turnover of Rs 120 crore. We are a cash-rich company without debt. But for the new company we will be borrowing from EXIM Bank and if needed also look at further equity dilution,” said Velumani, founder of Thyrocare Group.
CX Partners had recently picked up 27 per cent stake in Thyrocare.
The molecular imaging centres will have 120 advanced PET/CT imaging systems and 12 PET Trace Medical Cyclotrons which produce glucose that helps early detection of 95 per cent of cancers. “While in the US, a PET/CT is available for one million people, in India there is not even one for 15 million. With the high rate of incidence of cancer in India, early detection is going to be vital in the fight against the disease,” said Terry Bresenham, president and CEO of GE Healthcare India.
Thyrocare will have the cost benefit of having the systems in bulk from GE, which is also a strong player in molecular technology. GE is also in the process of bringing out low-cost diagnostic technologies for the emerging markets like India. It will invest $50 million in India on such products till 2015, which also includes a PET/CT system at 40 per cent lower cost.
“Currently a PET/CT scan costs Rs 25,000 per test and we will bring this cost down to Rs 10,000 per test making it more affordable,” said Velumani.
As reported in: http://www.mydigitalfc.com/news/thyrocare-invest-rs-1000-cr-imaging-units-882