Neuberg Diagnostics Targets IPO Within Six Months Amid Rising Healthcare Demand

The move comes as India faces increasing demand for diagnostic services amid rising chronic disease prevalence and a rapidly ageing population.

Chennai-based Neuberg Diagnostics is planning an initial public offering (IPO) within the next six months, or by early 2027 at the latest, according to Chairman and Managing Director GSK Velu. 

The move comes as India faces increasing demand for diagnostic services amid rising chronic disease prevalence and a rapidly ageing population.

Neuberg, which operates around 200 clinical laboratories and multiple sample collection centers across India, is focusing on expanding its market share in advanced radiology and pathology services. Velu highlighted that radiology currently contributes about 22% of revenue, while advanced pathology accounts for 15%. The company expects radiology to grow to one-third of revenue, with pathology contributing the remaining two-thirds.

India’s diagnostic market is projected to nearly triple to $43.57 billion by fiscal 2032 from $16.23 billion in 2023, driven by rising health awareness and an increasing elderly population vulnerable to chronic conditions such as diabetes and heart disease, according to Polaris Market Research and the United Nations Population Fund.

While Velu did not disclose specifics about the IPO size or intended valuation, Neuberg was valued at $547 million as of December 2025, according to Tracxn. Listed competitors Metropolis Healthcare and Thyrocare Technologies are valued at ₹95.06 billion ($1.03 billion) and ₹57.13 billion, respectively.

The company also operates internationally, with services in South Africa and a genetic laboratory in the U.S. Neuberg is targeting revenue of ₹20 billion for fiscal 2027, up from an expected ₹16 billion for fiscal 2026, as it seeks to strengthen its position in the diagnostic sector.

The planned IPO is expected to support Neuberg’s expansion in India’s fast-growing healthcare market, particularly in the high-demand segments of advanced pathology and radiology.

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