Thyrocare Technologies Limited
India's hospital market was valued at US$ 98.98 billion in 2023, projected to grow at a CAGR of 8.0% from 2024 to 2032, reaching an estimated value of US$ 193.59 billion by 2032.
Thyrocare Technologies Limited is an India-based healthcare service provider. The company operates with a Centralized Processing Laboratory (CPL) in Mumbai, India for esoteric tests and regional processing laboratory in metro cities of India and other parts of Asia. The company offers technologies like Chemiluminescence Immunoassay (CLIA), Enzyme Linked Immunosorbent Assay (ELISA), High Performance Liquid Chromatography (HPLC), Capillary Electrophoresis (CE), Ion Selective Electrode (ISE), Fluorescence Flow Cytometry, Nephelometry, Photometry, Liquid Chromatography Mass Spectrometry (LC-MS), Inductively Coupled Plasma-Mass Spectrometry (ICP-MS) and Cytogenetics. The company offers cancer diagnosis and water testing through its brands, Nueclear and Whaters, respectively. The company tests cover varied age groups from offerings for prenatal screening to screening for hormonal imbalance, nutritional deficiencies and tracking lifestyle disorders.
- 2,115 employees
- 2,000 cities/towns
- Revenue stood at Rs. 152 crore (US$ 17.5 million) in the third quarter of FY25
- India's first fully automated diagnostic laboratory
Thyrocare Technologies Limited: Think Thyroid Think Thyrocare
| Year | Milestone |
|---|---|
| 2024 |
Thyrocare has strengthened its presence in Northern India by acquiring Polo Labs, integrating its 14 laboratories across Punjab, Haryana, and Himachal Pradesh into Thyrocare's network. This strategic move aims to enhance diagnostic capabilities, improve turnaround times, and expand service offerings, benefiting patients in the region. Thyrocare's centralized processing laboratory in Navi Mumbai will leverage Polo Labs' established infrastructure to provide high-quality, affordable testing services to a broader client base. On February 5, 2024, Thyrocare acquired Chennai-based Think Health Diagnostics, marking its entry into home ECG services. This expands its pre-policy medical check-up segment for insurance, offering a comprehensive solution. With plans to expand to over 100 cities, the merger combines Thyrocare's extensive network with Think Health's expertise in home healthcare. CEO Mr. Karkavel Jegadeesan sees it as a pivotal moment for growth. |
| 2023 |
In August 2023, Thyrocare announced that it has achieved National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation for nine additional processing laboratories in Bhopal, Guwahati, Bangalore, Chennai, Patna, Bhubaneswar, Raipur, Lucknow, and Ranchi. PharmEasy is acquiring a majority stake in listed diagnostics firm, Thyrocare Technologies Ltd for US$ 612 million. In April 2023, Thyrocare has announced the launch of JAANCH, a brand that offers specialised health packages under one roof. Jaanch provides targeted, detailed, and affordable healthcare solutions to all Indians. The brand Jaanch consists of 26 packages under 9 vital specialties that cover heart health, diabetes, thyroid, cancer, sexually transmitted diseases (STDs), women’s reproductive health, skin care, hair fall and fever. |
| 2022 |
In March 2022, Thyrocare Technologies announced plans to launch four regional processing labs in the fourth quarter of FY22 in Nagpur, Ranchi, Raipur, and Ahmedabad, in addition to two more regional processing labs in Jaipur and Visakhapatnam (Vizag) in March 2022. |
| 2021 |
In June 2021, online pharmacy startup PharmEasy acquired a majority stake of 66.1% in diagnostics chain Thyrocare Technologies for Rs. 4,546 crore (US$ 595.77 million). |
| 2018 |
Patna Regional Processing Laboratory (RRL) was launched. |
| 2017 |
Awarded The VCCircle healthcare company of the year. |
| 2016 |
Entered the Public listed sphere of healthcare - IPO. |
| 2015 |
The company opened Regional Processing Laboratories (RPLs) in Delhi, Coimbatore, Hyderabad, and Kolkata to expand its coverage and volume of tests and samples processed daily. |
| 2014 |
The company installed India’s first and the world’s longest track automation system for seamless sample movements from Siemens Limited. |
| 2011 |
Installed Asia’s first and Worlds longest Total Lab Automation (Siemens). |
| 2010 |
The company launched wellness packages under the brand name, "Aarogyam". |
| 2008 |
Introduced Point of Care Diabetic screening with SugarScan. |
| 2007 |
The company received accreditation from the College of American Pathologists (CAP). |
| 2005 |
The company received National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation. |
| 2004 |
Introduced Unique Barcoding System. |
| 2000 |
The company was incorporated as "Thyrocare Technologies Limited’ and received the certificate for commencement of operations. |
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