Private diagnostics startup Orange Health Labs is moving into radiology to broaden its service suite. While revenue rose 65% to ₹138.6 crore in FY26, the company posted a net loss of ₹146 crore. It is currently seeking $30 million in new funding to support its expansion into physical diagnostic centers.
Orange Health Labs is planning to enter the radiology segment as part of a strategy to move beyond its core pathology business. The startup, which is not listed on public stock exchanges, aims to transition from a pure-play at-home service provider to a hybrid model that includes physical diagnostic centers. This shift is intended to capture a wider share of the diagnostic market by offering imaging services alongside its existing blood testing portfolio.
The company’s latest financial data for FY26 highlights both growth and the challenges of scaling in the competitive Indian healthcare sector. Orange Health Labs reported an operating revenue of ₹138.6 crore, a 65% increase compared to the previous year. However, this growth has come at a significant cost, with the company recording a net loss of ₹146 crore and an EBITDA loss of ₹92.4 crore. The data suggests that for every rupee of revenue earned, the company spent substantially more on operations and expansion.
While the firm has achieved operational profitability in specific high-performing markets like Bengaluru, the broader financial picture reflects the typical pressures faced by health-tech startups. To support its expansion, Orange Health Labs is working to secure a $30 million Series C funding round led by the investment firm Iron Pillar. These funds are earmarked for building out a network of 150 to 200 physical collection and diagnostic centers by the end of 2026, marking a shift from its previously dominant at-home testing model.
Investors and observers should note the execution risks involved in this transition. Moving from an asset-light at-home diagnostics model to a capital-intensive radiology and imaging business requires significant investment in heavy equipment, real estate, and skilled manpower. This transition also puts the company in direct competition with established diagnostic giants like Dr. Lal PathLabs and other well-funded startups such as Healthians and Redcliffe Labs, which already maintain extensive physical networks.
The path to long-term sustainability will depend on how efficiently the company can manage its cash burn while scaling its new radiology business. The primary monitorable for stakeholders will be whether these new physical centers can achieve the same rapid break-even timelines as their successful at-home units, and whether the company can successfully navigate the intense pricing and service competition prevalent in the Indian diagnostics market.