Manipal Hospitals to add 2,400 beds by FY15

Healthcare provider Manipal Hospitals has said it will add 2,400 beds by the end of 2014-15 fiscal and planned to raise Rs 1,000 crore for the expansion.

"We will increase our bed capacity to 4,000 beds in coming three fiscals and are in the process of raising funds of around Rs 1,000 crore from India Value Fund Advisors (IVFA) for growth and future investments," Manipal Hospitals CEO and MD Rajen Padukone told PTI here.

The healthcare chain that is predominantly strong in South India, currently has 1,600 beds in its various hospitals.

The investments will be in both greenfield and brownfield projects, he added.

"We are looking at new locations in Orissa, Madhya Pradesh and Maharashtra. All the new hospitals will be multi-specialty tertiary care hospitals and will have between 250-300 beds," Padukone said.

The expansion plans comprise adding 600 beds in existing facilities including those at Bangalore and Goa, he added.

Manipal Hospitals with a network of fifteen hospitals and three primary clinics is part of the Manipal Education and Medical Group (MEMG).