“Forte Group of companies has paved its path in the healthcare industry for the past 27 years, where Forte Diagnostics PVT LTD is the latest expansion of the Group under the visionary leadership of Mr M F A Riyas, Managing Director. Launched in the year 2018, in technical collaboration with TechMed Healthcare Pvt Ltd, India and also affiliate partnership with MedGenome Labs, India (Genomics sequencing Partner), Oncquest Laboratories (Molecular investigations Partner).
Accordingly, Forte Diagnostics is committed to its responsibility of delivering accurate, reliable results and it is the only Laboratory services company that offers its clients an array of laboratory tests ranging from routine tests to complex genomics under one roof.”
Chairman And Managing Director
Forte Group of Companies
Forte Diagnostics Pvt Ltd
Aspires to be one of the leading stand-alone medical laboratory diagnostic centre in the country.
The laboratory is equipped with the latest and cutting edge technology and diagnostic equipment to provide reliable results covering the complete requirement of the market backed by our World recognized principals.
Introduction to Industry
Healthcare has become one of Sri Lanka’s largest sectors – both in terms of revenue and employment. The Sri Lankan healthcare sector is growing at a brisk pace due to its strengthening coverage of services and increasing expenditure by public as well as private sectors.
The Sri Lankan market for diagnostic (Testing only) services has grown in the last 5 years at a CAGR of 19.2% to an estimated LKR 1.5 Billion (USD 9.49 Million).
Despite high operating margins (c.25%-30%), pricing of diagnostics services is such that it is affordable by the vast majority of the population. Most tests are in relation to microbiology, biochemistry, hematology, histopathology, immunology, molecular biology (DNA testing) and clinical pathology. Delivery of diagnostics typically occurs via hospital-lab combinations, which use a series of reference labs, satellite labs and collection centers to expand their coverage of services.
There are approximately 930 laboratories across the country that serves 30,000 to 35,000 thousands of patients per day. This includes specialized laboratories, laboratory facilities in hospitals, nursing homes and small testing centers with basic facilities.
The IVD (In-Vitro Diagnostics) market is estimated to grow 20 percent annually. Contributing factors to the growth of the IVD market are: increasing health awareness and demand for quality healthcare; changing demographics and prevalence of disease; increasing corporate presence in healthcare including establishing diagnostic laboratories; the expansion of pathology diagnostic market to towns and rural areas; the growing number of insured lives; changes in medical liability legislation; and a developing clinical research market.
Though stratification exists in the laboratories, there are a growing number of corporate players. The high-end laboratories, which offer automated chemistry and hematology systems, cater to approximately 60 percent of the national workload while the second tier regional laboratories cater to 20 percent of the patients. The manual laboratories account for the remaining 20 percent patients.
The positive attributes identified in Sri Lanka’s public health services were universal access to health services irrespective of class or creed, dependability, convenience, quality of and choice of doctors, quality of care from nursing staff, and services delivered in most health institutions.
The drawbacks were the lack of medicines, equipment, facilities for medical investigations, which ultimately leads to huge out-of-pocket expenditure for the patient; lack of privacy and inability to always choose the doctors and continue with his/her services are additional negatives. In the private sector, patients are burdened with exorbitant medical bills, lack of transparency and credibility of those medical charges.