New Delhi, Jan 27 (PTI): Aditya Burman-promoted diagnostic chain Oncquest Laboratories is looking to add 18 labs mainly in tier II cities across the country by the end of 2020, a senior company official has said.

The company currently operates 38 laboratories in the country and has 500 collection centres, and it conducts over 4,000 different tests.

Besides India, the company has collection centres in Nepal, Bangladesh, Sri Lanka and Malaysia.

"We will be adding 18 more labs across India by 2020-end mainly in tier II cities as we already have presence in the tier I cities," Oncquest Laboratories COO Ravi Gaur told PTI.

The cities under consideration are Vijayawada, Jammu, Jalandhar, Kanpur, Jodhpur, Surat, Bhopal, Indore, Ranchi and Coimbatore, among others, he added.

"We may also open another lab in Mumbai and Bengaluru during this period," Gaur said.

The company is also planning to open labs in the Middle East and South Africa in future, he added.

When asked about the investment the company would be making on expansion and how it plans to fund it, Gaur said: "The investment for adding 18 labs will be around Rs 50 crore and it will be through internal accruals."

By the end of 2020, the company will also be adding 500 more collection centres, taking the total count to 1,000, he added.

The key business areas for Oncquest Laboratories are specialised diagnostics, routine diagnostics, hospital lab management, clinical trials and research and development.