Invicta Diagnostics Limited, operating under the brand “PC Diagnostics”, is a diagnostic chain in the Mumbai Metropolitan Region (MMR) offering radiology and pathology services. The company provides imaging solutions, clinical laboratory testing, and teleradiology services through a digitally driven model focused on accessibility, affordability, and quality customer care.

Business Model & Customer Base

The company operates predominantly in the B2C segment, with ~87% of revenue generated from individual patients in FY25. The strategy focuses on:

1. Direct customer engagement
2. Affordable one-stop diagnostics under one roof
3. Home collection and digital access to reports

Products & Services

Invicta offers a diverse diagnostic portfolio with:

i) ~60 routine and 487 specialized pathology tests

ii) ~96 basic and ~130 advanced radiology tests

Services range from basic tests such as X-rays, Ultrasounds, ECGs to advanced modalities like MRI, CT Scan, and PET-CT, supported with home collection and digital reporting to enhance patient convenience.

Operational Network

Invicta follows a Hub-and-Spoke model, ensuring centralized quality control and wider reach. As of September 30, 2025, the network includes:

–  1 flagship centre (main hub) in Thane

– 3 hub centres (with MRI/CT/PET-CT)

– 3 spoke centres for basic testing and sample collection

– 1 centralized laboratory

The diagnostic services are managed by a professional team comprising 20 radiologists, 4 laboratory doctors, and 133 technical staff.

Market Opportunity & Growth Outlook

The Indian diagnostics industry has experienced strong growth driven by ageing population, rising non-communicable diseases, medical tourism, and urbanization. Radiology holds a significant share of India’s diagnostic market and is projected to expand at a ~13.5% CAGR through 2030, presenting a strong opportunity for Invicta’s radiology-led business expansion.