Shares of Krsnaa Diagnostics Ltd rallied 4% to hit an intraday high of Rs 875 on 26 September after the company announced its plans to acquire a 23.53% stake in Apulki Healthcare to secure exclusive rights for providing diagnostics services. 

Established in 2022, Apulki Healthcare is a public-private partnership hospital establishment, management, and operations company that specialises in cardiology and oncology. In the upcoming three months, the acquisition will be finished.

With its competitive pricing and established presence in the under-penetrated Tier II/III markets, the diagnostics company, which uses a unique PPP (public-private partnership) arrangement, stands to benefit the most from the government’s focus on “healthcare for all.”

Krsnaa has opened 63 tele-reporting centres, around 805 pathology collecting centres, 21 pathology labs, and 15 new CT/MRI centres in the last 12 months.

The company just won two big radiology contracts in Madhya Pradesh and Maharashtra, which include installing 23 MRIs and 17 CT scans in each state.

Apart from getting a contract for radiology services via tele-reporting from the Bhabha Atomic Research Centre (BARC) hospital in Mumbai, Krsnaa is also in the process of setting up 57 radiology facilities.

These tender wins for CT and MRI scans are expected to result in an increase in radiology projects in FY25.

At 1:42 pm, the shares of Krsnaa Diagnostics were trading 0.47% higher at Rs 842.20 on NSE. 

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