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Renata Invest Tk 36.33 Crore in Diagnostic Industry

Industry: Healthcare & Pharma, Pharma
Company: Renata Limited
Company Intelligence Tag: Business Insights

Renata Limited is diversifying into the diagnostic industry by acquiring 25.32 decimals of land at a cost of Tk36.33 crore. This strategic move aligns with the company’s long-term vision, aiming to fill the gap in world-class diagnostic testing systems in the country. The chosen location on Eskaton Garden Road in Dhaka, near major healthcare institutions, Birdem General Hospital and Bangabandhu Sheikh Mujib Medical University, enhances accessibility to high-quality diagnostic services. Renata aims to offer a comprehensive range of tests, including rare cases, eliminating the need for citizens to seek such services abroad. In the fiscal year 2022-23, Renata reported a 6% growth in revenue, with a 54% decline in profit, and plans to pay a 62.5% cash dividend to its shareholders.

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