RaphaCure will now manage the diagnostics business of partners in all its 270 plus clinics following the strategic partnerships with the diagnostic labs across India. 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 centers 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 percent 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 percent 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 percent.
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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