What Medinova Diagnostic Services does

Medinova Diagnostic Services Limited is an India-based, publicly listed (BSE: MDSL/bom:MEDINOV) diagnostic chain founded in 1985 in Hyderabad. The company operates as a multi-modality diagnostic services platform offering laboratory testing (biochemistry, haematology, microbiology, histopathology, serology, endocrinology), diagnostic imaging (MRI, CT, digital X-ray, ultrasound, bone densitometry, 2D ECHO, color doppler, vascular studies), cardiac diagnostics (ECG, EEG, cardiac stress testing), and gastroscopy. Service delivery runs through four owned diagnostic centers in Hyderabad, Kolkata, and Pune, three franchise centers targeting rural and semi-urban markets, home-visit sample collection, ambulance services, and on-site corporate health camps. The equipment base consists of state-of-the-art instruments from GE, Marquette, Siemens, Hitachi, Wipro GE, and Boehringer Manheim, with operations ISO 9002 certified.

The revenue model combines per-test and per-package transaction fees (Master Health Checkup, Well Woman Checkup, Cardiac, Diabetic, Lipid, Hypertension, Renal, Hepatic, Orthopaedic, and Rheumatoid profiles), franchise licensing/royalty income, corporate subscription-style health check-up schemes, and concessional low-subscription healthcare schemes targeting economically weaker sections. Customer segments span individual patients (primary), corporate/enterprise clients, government employees, and industrial workers, with additional historical revenue from overseas consultancy assignments in Nigeria and Zambia assisted by the African Development Bank. Cumulative patient volume is reported at approximately 10 million people served since 1985, with 2+ million receiving free or concessional treatment.

The most material corporate event is the November 4, 2025 effective-date merger with Vijaya Diagnostic Centre Limited, which absorbed Medinova into Vijaya's larger hub-and-spoke network of 33+ branches serving 6,000+ patients daily. Post-merger leadership is headed by Dr. Sura Surendranath Reddy (Chairman, founder of Vijaya) and Mr. Sunil Chandra Kondapally (Managing Director), with the Vijaya leadership team now controlling the combined entity's strategy, operations, and East India expansion. Medinova previously operated as an independent small-cap entity with 51–100 employees and a 14.46% BSE stock-price rally on April 8, 2025 that signaled market anticipation of the consolidation.

Name

Medinova Diagnostic Services

Legal name

Medinova Diagnostic Services Ltd.

Website

https://medinovaindia.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

51–100 employees

Short description

Medinova Diagnostic Services is a Hyderabad-based, BSE-listed Indian diagnostic chain founded in 1985, operating four owned centers and three franchise locations across Hyderabad, Kolkata, and Pune, offering laboratory, imaging, cardiac, and gastroscopy services to individual, corporate, and government patients, now merged into Vijaya Diagnostic Centre effective November 4, 2025.

Ownership category

akta.pro rank

Product category

Diagnostic Services

NAICS

Medical Laboratories (621511), Diagnostic Imaging Centers (621512)

SIC

Services-Medical Laboratories (8071)

akta.pro primary industry

Lab Draws, Specimen Collection & Point-of-Care Testing (In-Home) (HSABACAN)

Keywords

• Diagnostic services
• Medical imaging services
• Pathology laboratory
• Health checkup packages
• Cardiac diagnostics

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Diagnostic Testing Services: Revenue generated from comprehensive diagnostic testing services including lab tests (biochemistry, haematology, microbiology, histopathology, serology, endocrinology), radiology (X-ray, CT, MRI), imaging (ultrasound, color doppler), cardiac tests (ECG, TMT, 2D echo), and specialized health check-up packages
2. Franchise Operations: Technical expertise, brand licensing, and management consultancy provided to franchise diagnostic centers with quality audit and training support
3. Corporate Health Services: Health check-up schemes and on-site camps for corporate clients, government employees, and industrial workers at concessional rates
4. Healthcare Schemes: Concessional treatment schemes with low subscriptions providing diagnostic facilities to masses across economic strata
5. Overseas Consultancy Assignments: Completed overseas consultancy assignments for diagnostic projects (Nigeria and Zambia) assisted by African Development Bank

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Medinova Diagnostic Services operates a comprehensive diagnostic services platform offering laboratory testing (biochemistry, haematology, microbiology, histopathology, serology, endocrinology), diagnostic imaging (MRI, CT, digital X-ray, ultrasound, bone densitometry, 2D ECHO, color doppler), cardiac diagnostics (ECG, TMT, EEG), and gastroscopy under one roof. The company serves individual patients through owned diagnostic centers, franchise centers, and home visits, while also providing corporate health check-up schemes, on-site camps, and concessional healthcare schemes for economically weaker sections.

Product overview

Medinova Diagnostic Services operates a comprehensive diagnostic services platform offering all diagnostic services from routine blood tests to sophisticated CT/MRI scans under one roof. The core offering includes four diagnostic centers in Hyderabad, Kolkata, and Pune, plus three franchise centers nationwide. The service portfolio spans laboratory services (biochemistry, haematology, microbiology, histopathology, serology, endocrinology), diagnostic imaging (MRI, CT, digital X-ray, ultrasound), cardiac diagnostics (ECG, 2D ECHO, color doppler, cardiac stress testing), and gastroscopy. The company provides specialized health check-up packages including Master Health Check Up, Well Woman Check Up, Cardiac Profile, Diabetic Profile, Lipid Profile, Hypertension Profile, Renal Profile, Hepatic Profile, Orthopaedic Profile, and Rheumatoid Profile. Additional services include home visit sample collection, ambulance service, and corporate health camps.

Differentiator

Problem solved

Functional benefit

Products and services

• Diagnostic Imaging Services Comprehensive diagnostic imaging services including MRI, CT scans, digital X-ray, ultrasound, bone densitometry, 2D ECHO, color doppler, vascular studies, and cardiac stress testing (TMT) for individual patients, corporate clients, and franchise partners.
• Laboratory Services Full-service medical laboratory offering biochemistry, haematology, microbiology, histopathology, serology, and endocrinology testing using automatic analyzers and sophisticated instruments for diagnostic evaluation.
• Cardiac Diagnostics Cardiac testing services including ECG, EEG, cardiac stress system (TMT), 2D ECHO, and color doppler examinations for comprehensive heart health assessment.
• Gastroscopy Services Gastrointestinal diagnostic services including gastroscopy examinations for direct visualization of the upper digestive tract.
• Master Health Check Up Comprehensive health screening package including haemogram, blood chemistry (glucose, cholesterol, liver and kidney function tests), hepatitis B screening, chest X-ray, abdominal ultrasound, and ECG for full preventive health assessment.
• Well Woman Check Up Women's health screening package including ESR, Pap smear, and cervical cancer screening for women's preventive health assessment.
• Cardiac Profile Heart health assessment including complete blood picture, fasting glucose, lipid profile, 2D color doppler, and cardiac stress test for cardiovascular risk evaluation.
• Diabetic Profile Diabetes monitoring package including fasting and post-prandial glucose, glycosylated haemoglobin (HbA1c), electrolyte panel (sodium, potassium, chlorides), cholesterol, and ECG for diabetes management.
• Lipid Profile Blood lipid assessment including VLDL cholesterol measurement for cardiovascular risk evaluation.
• Hypertension Profile Blood pressure monitoring and cardiovascular risk assessment including HDL cholesterol screening for hypertension management.
• Orthopaedic Profile Musculoskeletal health screening including bleeding/clotting time tests, random glucose, HIV screening, and chest X-ray for orthopedic health assessment.
• Rheumatoid Profile Rheumatological screening including LE cells, cholesterol, calcium, ASO titre, C-reactive protein, and rheumatoid factor assay for rheumatoid condition assessment.
• Franchise Diagnostic Centers Turnkey diagnostic center franchise opportunities offering technical expertise, brand licensing, marketing assistance, equipment configuration guidance, recruitment assistance, and day-to-day management consultancy for entrepreneurs setting up diagnostic facilities under the Medinova brand.
• Home Visit Services Home-based diagnostic services including lab sample collection, report delivery, ECG at home, and ambulance service for patient convenience.
• Corporate Health Camps On-site health screening camps for corporate clients, government employees, and industrial workers providing diagnostic services at workplaces with concessional rates.

Quantifiable outcome

• Over 10 million people served since inception
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Vijaya Diagnostic Centre LimitedcoreStrategic or Co-development Partner · 4 November 2025Merger with Vijaya Diagnostic Centre Limited completed effective November 4, 2025. Medinova Diagnostic Services was absorbed into Vijaya Diagnostic Centre, strengthening its presence in East India. Dr. Sura Surendranath Reddy serves as Chairman of both entities. The merger was approved by NCLT and BSE.
• African Development BankminorOthersAssisted Medinova in completing overseas consultancy assignments for diagnostic projects at Nigeria and Zambia, marking its presence in the international arena.
• Equipment Suppliers (GE, Marquette, Siemens, Hitachi, Wipro GE, Boehringer Manheim)coreTechnology or IntegrationDiagnostic equipment suppliers including GE, Marquette, Siemens, Hitachi, Wipro GE, Boehringer Manheim providing state-of-the-art diagnostic equipment including MRI, CT scanners, ultrasound machines, color dopplers, ECG machines, and auto analyzers.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Emerging players

• Healthians: Tech-enabled home diagnostics provider in India offering sample collection at home and online reports. Comparable to Medinova's home visit lab sample collection service, with a tech-first model.
• Neuberg Diagnostics: Pan-India network of diagnostic labs offering pathology, imaging, and wellness packages. Comparable on the multi-modality model with growing national footprint.
• Tata 1mg Labs: Digital health platform offering home-based lab testing and preventive health packages. Comparable on direct-to-consumer diagnostics and home sample collection services.

Direct peers

• Thyrocare Technologies: Publicly listed pan-India preventive and wellness diagnostics provider. Comparable on the lab testing model and pan-India reach, though with a more centralized hub-and-spoke lab architecture.
• Vijaya Diagnostic Centre: Hyderabad-headquartered diagnostic chain with 33+ branches serving 6,000+ patients daily. Now merged with Medinova, offering a directly comparable multi-modality diagnostic model in the same geography and customer segments.
• Metropolis Healthcare: Publicly listed pan-India diagnostic chain operating pathology labs and service centers. Directly comparable as a multi-modality provider with a similar mix of walk-in, franchise, and B2B partnerships.
• Apollo Diagnostics: Diagnostic arm of Apollo Hospitals offering pathology, imaging, and health check-up packages across India. Directly comparable for multi-modality outpatient diagnostics and corporate health camps.
• Suburban Diagnostics: Mumbai-headquartered diagnostic chain offering pathology, imaging, and home collection services. Comparable as a regional multi-modality player with corporate health and preventive package offerings.
• Dr. Lal PathLabs: India's largest diagnostic chain offering pathology and radiology services across India with a similar franchise/asset-light model. Directly comparable as a multi-modality provider serving individual patients, corporate clients, and franchise partners.

Broad incumbents

• SRL Diagnostics: Part of Agilus Diagnostics, one of India's largest diagnostic networks with extensive pathology and radiology capabilities. Comparable as a broad incumbent offering overlapping diagnostic services across India.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/medinova-diagnostic-services-limited

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medinova Diagnostic Services