India’s Neuberg Diagnostics is planning to go public within the next six months, or by early 2027 at the latest, a senior executive told Reuters, as the company looks to capitalize on strong growth driven by rising chronic diseases and an ageing population in the country.
The Chennai-based diagnostics chain is focusing on expanding its presence in advanced radiology and pathology segments within a market that is expected to nearly triple in size from $16.23 billion in 2023 to $43.57 billion by fiscal 2032, according to data from Polaris Market Research.
Increasing health awareness and a growing ageing population more susceptible to chronic conditions such as diabetes and heart disease are driving a rise in diagnostic testing. India’s population aged 60 and above is expected to more than double, exceeding 20% of the total population by 2050, according to the United Nations Population Fund.
“Our revenue from radiology is around 22% of the total and from advanced pathology is 15%, and we expect radiology to contribute to a third of the revenue and two-thirds from pathology (including advanced),” said Chairman and Managing Director GSK Velu.
Velu did not provide specific details about the initial public offering, such as its size or the company’s expected valuation.
Listed rivals Metropolis Healthcare and Thyrocare Technologies are valued at about 95.06 billion rupees ($1.03 billion) and 57.13 billion rupees, respectively.
Neuberg is targeting a revenue of 20 billion rupees in fiscal 2027, up from 16 billion rupees it expects to close fiscal 2026 with, Velu said. It also offers services in South Africa and has a genetic laboratory in the U.S., he added.
About Neuberg Diagnostics
Neuberg Diagnostics is a major global diagnostic company founded in 2017. It has a wide network in India, UAE, South Africa, and the USA, offering services in pathology, molecular diagnostics, and medical imaging. Every year, it performs over 30 million tests, using AI and advanced technology to provide accurate results. The company focuses on preventive healthcare and personalized medicine. Its laboratories are certified by CAP and NABL, ensuring international-quality standards. Neuberg Diagnostics aims to improve healthcare by combining modern lab technology with a patient-focused approach.
