Mumbai: Metropolis Healthcare Ltd (referred to as the “Company”; NSE: METROPOLIS |BSE: 542650) a leading diagnostic service provider announces their financial results for the financial year 2018-19.
Key performance highlights: FY 2018-19 vs. FY 2017-18
Key Growth Parameters: During the year, Metropolis witnessed robust operating and financial performance with good revenue growth maintaining overall margin and faster than industry benchmarks. One of the key growth parameters is a 15.5% growth in a number of patient visits with an increase in revenue per patient (5.4%) and revenue per test (8.5%).
Going closer to the Patient
FY’19 continued to be a year of aggressive network expansion for the company. Its laboratory network grew to 119 from 106 in FY2018, majority through asset-light ‘Lab on a Lease model.
It’s patient service network of owned PSCs (Patient Service Centers), ARCs (Assisted Referral Centers) and third-party PSCs grew 5.5x times between FY16-19 of which 79% was added in the last two years (40% growth in FY19). As this young network matures, it is expected to contribute to rapid short and midterm future growth.
Commenting on the annual results, Ms. Ameera Shah, Managing Director of Metropolis Healthcare Ltd said “I am happy to share the first financial performance of our company as a listed entity. FY19 has ended on a positive note for us as the company delivered a healthy topline. We expect short and midterm future growth owing to fast-paced network expansion and execution. We will further strengthen our efforts towards differentiating our superior customer experience, delivering quality results and improving our technological capabilities.
We will continue to increase our retail contribution in Focus Cities and impact the lives of Indians while assisting them with quality results for routine and specialized tests. We will walk the extra mile for our patients who trust us during their most anxious moments during illnesses.”
New wellness initiatives: In Feb 2019, the company also launched its wellness initiative ‘Truhealth’ across 36 cities which will help bolster its position in the fast-growing wellness segment. Truhealth comprises of mass awareness on the need for preventive healthcare and promotion of customized wellness packages. Customers today are serious about wellness and choose to undergo preventive screening to safeguard their health and diagnose conditions before they turn in to complications. This segment of the industry is termed as wellness as opposed to illness wherein a patient has to undergo tests basis a prescription. *The overall market for wellness and preventive diagnostics was 7 to 9% in the financial year 2018. It is expected that this segment will grow at a CAGR of approximately 20% over the next three financial years. (*Frost & Sullivan)
Revealing Inner Health: In FY19, the company also launched over 24 super specialized tests in the area of cancer diagnosis, genetic disorders, neurological conditions, and infectious diseases.
Obsessive focus on customer experience: Owing to its intense focus on customer experience and satisfaction, the company consistently maintained a net promoter score of 85 across the group in FY19. A net promoter score is a management tool that helps establish brand affinity and loyalty. The company has been consistent in its NPS performance owing to its brand equity built on trust and quality, years of experience and other service differentiators.
Expert Team of doctors & Scientific Team: As of Mar 2019, the company’s core scientific team constituted 201 doctors & pathologists and 2,236 scientific officers and phlebotomists. The company’s academic team published 11 scientific papers in National and International Indexed Journals.
Investments in Information Technology: The Company upgraded its core IT Infrastructure to improve business revenue generation capabilities, cost optimization, operational efficiencies, and customer experience.
Nurturing Medical Talent: In addition, the company also conducted its first MEDENGAGE Scholarship Summit in Dec 2018 which is a program that nurtures medical talent and conducts multiple academic initiatives throughout the year; thus establishing Metropolis in the minds of the younger generation of doctors.
Boilerplate: Metropolis Healthcare Ltd is a leading diagnostics company in India (by revenue, as of March 31, 2018) (Source: Frost & Sullivan) with a widespread presence across 19 states in India. Metropolis touches millions of lives each year by providing actionable health insights to patients and doctors. Metropolis offers a comprehensive range of 3,487 clinical laboratory tests and 530 profiles that includes advanced tests in the diagnosis of cancer, neurological disorders, infectious diseases and an array of genetic abnormalities. Metropolis’ commitment to quality and accuracy in each and every test is reinforced by its consistent CAP proficiency score of more than 98% over the past decade; which places it amongst the top 1% laboratories worldwide for quality assurance. Metropolis philosophy rests on the pillars of technological superiority, a warm patient-centric approach, and reliable diagnostic reports.
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