Chandan Healthcare IPO Details

Chandan Healthcare Limited operates a diagnostic network in North India, offering both pathology and radiology testing services. As of December 31, 2024, the company operates one flagship laboratory, nine central laboratories, and 27 satellite centers, along with over 300 collection centers. These facilities are spread across cities in Uttar Pradesh and Uttarakhand. Notably, eight laboratories have National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation, and three diagnostic centers hold National Accreditation Board for Hospitals & Healthcare Providers (NABH) accreditation.

Services and Revenue:

• Chandan Healthcare provides a broad range of over 1,496 tests, including routine pathology tests (biochemistry, hematology) and specialized tests (e.g., molecular pathology, immunohistochemistry, MRI, CT scans).
• The company also offers radiology services, operating 11 CT scanners and 4 MRI machines.
• Revenue distribution in 2024 shows 47% from product sales, 34.22% from pathology services, and 18.77% from radiology services.
• A significant portion of revenue comes from B2B sales to corporate clients, contributing over 60% of total revenue in recent years, while B2C (individual patient) revenue contributes about 37.69%.

Operational Model:

• Chandan Healthcare follows a hub-and-spoke model, where samples are collected from various centers (including home collection services) and transported to central labs for testing. This enhances efficiency and reaches customers in remote areas.
• It operates in multiple locations with a total of one flagship laboratory, nine central reference laboratories, and 27 satellite laboratories.

Key Personnel and Subsidiaries:

• The company employs radiologists, pathologists, and over 161 qualified professionals, including technicians and operators.
• Chandan Healthcare's subsidiary, Chandan Pharmacy Limited (CPL), was incorporated in 2017 and operates 31 medical stores. CPL contributes a significant portion of the group's consolidated revenue, primarily from pharmaceutical, FMCG, and surgical product sales.

Flagship and Central Laboratories:

• The flagship laboratory is located in Jankipuram, Uttar Pradesh, offering various specialized departments, including clinical biochemistry, histopathology, microbiology, and molecular pathology.
• The central laboratories are spread across Uttar Pradesh, Uttarakhand, and Rajasthan, processing routine and specialized tests.

Products and Services:

• Diagnostic services include routine and specialized pathology and radiology tests, wellness services, preventive care packages, and home collection services.
• The company also sells medical consumables, such as reagents, X-ray films, and other healthcare products through CPL, including a wide variety of pharmaceutical and surgical products.

In summary, Chandan Healthcare Limited has established a significant presence in the diagnostic sector in North India, offering integrated pathology and radiology services, while also expanding into pharmaceutical retail through its subsidiary. The company's wide service network, skilled workforce, and accreditation help maintain quality and reliability in the healthcare sector.