Mylab appoints Rajesh Patel as executive director IVD biz

Biotech company Mylab Discovery Solutions on Monday said it has appointed Rajesh Patel as the Executive Director of the in-vitro diagnostics (IVD) business. In this role, Patel will be responsible for spearheading the IVD testing equipment and reagent business at Mylab by setting up production units, overseeing the related research and development and the launch of the products across the domestic and overseas markets.

''His unparalleled industry and leadership experience in the field of diagnostics and the pharmaceutical industry will be very valuable to us and will help our IVD business to scale new heights,'' Mylab Managing Director Hasmukh Rawal said in a statement.

The company is continuously striving to make diagnostics affordable and accessible to all by introducing innovative technology platforms for labs and bringing testing closer to the patient, he added.

Mylab has earmarked Rs 100 crore for building the IVD business and aims to place its products in 1,000 labs within the first six months from the time of launch and acquire a market share of 10 per cent by the end of 2024 with its reach to more than 20,000 labs.

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