Medinova Diagnostic Services Ltd (MDSL), founded in March 1993, commenced its operations on March 26, 1993. It is a part of the Standard Organics group and specializes in offering a wide range of diagnostic services including pathological investigations, radiology & imaging, conventional and specialized lab services, and diagnostic cardiology.
MDSL acquired the business and assets of the diagnostic services division of Standard Medical & Pharmaceuticals (SMPL) as a going concern from April 1, 1993. It operates four main diagnostic centers in Hyderabad, Bangalore, Pune, and Kolkata, along with several smaller franchise centers in Karimnagar, Mancherial, Vizag, and Nellore.
In November 1993, MDSL issued a public offering of 6.75 million equity shares at par value, amounting to Rs. 6.75 crore. The company invested Rs. 10 crore in installing three magnetic resonance imaging units and other cutting-edge diagnostic equipment in its centers in Hyderabad and Bangalore.
MDSL also completed a consultancy project in Abuja, Nigeria, generating foreign exchange revenue. Additionally, it installed a new CT machine in Hyderabad in February 1995.
In the fiscal year 1996-97, Medinova-Hyderabad achieved ISO 9002 Certification, becoming the first in the medical diagnostics field to do so. As part of its expansion, the company opened a medium-sized center in Pimpri (Pune).
During 1998-99, MDSL installed a Magnetic Resonance Imaging Unit (MRI) and the latest Auto Analyser Hitachi 902 at its Hyderabad unit. Furthermore, a Color Doppler SONOS 2500 from M/s Hewlett Packard was installed at the Kolkata center. The company also introduced new health schemes to boost revenue.
Subsequent years saw continuous upgrades and acquisitions of equipment, including a Cell Counter Machine for the Haematology Department in 2005, new Auto Analyzers in 2006, and Ultrasound Machines in 2007, among others.
In 2014, MDSL sold/transferred its Bangalore Unit to M/s. Mallya Hospital as a going concern, including all assets and liabilities, for a total consideration of Rs. 715 lakhs. This sale left MDSL with retained business in Hyderabad, Pune, Kolkata, and a mini center in Bansdroni (Kolkata).
Furthermore, in 2014, M/s. Vijaya Diagnostic Centre Private Limited acquired a significant stake in MDSL, eventually gaining management control and becoming the promoter of the company.
MDSL acquired the business and assets of the diagnostic services division of Standard Medical & Pharmaceuticals (SMPL) as a going concern from April 1, 1993. It operates four main diagnostic centers in Hyderabad, Bangalore, Pune, and Kolkata, along with several smaller franchise centers in Karimnagar, Mancherial, Vizag, and Nellore.
In November 1993, MDSL issued a public offering of 6.75 million equity shares at par value, amounting to Rs. 6.75 crore. The company invested Rs. 10 crore in installing three magnetic resonance imaging units and other cutting-edge diagnostic equipment in its centers in Hyderabad and Bangalore.
MDSL also completed a consultancy project in Abuja, Nigeria, generating foreign exchange revenue. Additionally, it installed a new CT machine in Hyderabad in February 1995.
In the fiscal year 1996-97, Medinova-Hyderabad achieved ISO 9002 Certification, becoming the first in the medical diagnostics field to do so. As part of its expansion, the company opened a medium-sized center in Pimpri (Pune).
During 1998-99, MDSL installed a Magnetic Resonance Imaging Unit (MRI) and the latest Auto Analyser Hitachi 902 at its Hyderabad unit. Furthermore, a Color Doppler SONOS 2500 from M/s Hewlett Packard was installed at the Kolkata center. The company also introduced new health schemes to boost revenue.
Subsequent years saw continuous upgrades and acquisitions of equipment, including a Cell Counter Machine for the Haematology Department in 2005, new Auto Analyzers in 2006, and Ultrasound Machines in 2007, among others.
In 2014, MDSL sold/transferred its Bangalore Unit to M/s. Mallya Hospital as a going concern, including all assets and liabilities, for a total consideration of Rs. 715 lakhs. This sale left MDSL with retained business in Hyderabad, Pune, Kolkata, and a mini center in Bansdroni (Kolkata).
Furthermore, in 2014, M/s. Vijaya Diagnostic Centre Private Limited acquired a significant stake in MDSL, eventually gaining management control and becoming the promoter of the company.
