| The Export-Import Bank of India (EXIM Bank) and Asian Development Bank (ADB), besides a clutch of other global and Indian financial institutions, are understood to be in the race to lend around Rs 500 crore for expansion plans of Bangalore-based Narayana Hrudayalaya.
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| Dr Devi Shetty, founder of Narayana Hrudayalaya, recently embarked on a mega expansion plan to build health cities across five locations in India which will cumulatively have 5,000 beds specialising in various healthcare segments.
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| According to sources, the discussion for debt is at various stages and is expected to be finalised within the next quarter. Earlier this month, AIG and J P Morgan cumulatively committed Rs 400 crore equity to this project for a 25 per cent stake.
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| Narayana Hrudayalaya currently owns three hospitals across Bangalore and Kolkata with a total bed capacity of 2,500 and with the planned expansion of the health city project the capacity is expected to cross the 20,000 mark in five years.
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| Besides the hospital in Bangalore, the health city will also accommodate a teaching institute for cardiologists, cardiac surgeons, cardiac anaesthetists, nurses, health technicians and healthcare specialists.
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| In addition to the project in Bangalore, Narayana Hrudayalaya is planning health cities in Jaipur and Ahmedabad, besides expanding its Kolkata unit and enhancing a hospital in Jamshedpur.
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| Presently, Narayana Hrudayalaya runs nine primary healthcare centres, has taken over nine more of the Government of Arunachal Pradesh and is building 16 primary health centres at Amethi in Uttar Pradesh.
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| Sources further indicate that Kiran Mazumdar Shaw, chairman and managing director of Biocon Limited is understood to have committed a Rs 50 crore equity into this project and will be focussing on the speciality cancer unit.
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| The Bangalore Health city will include cardiac, orthopaedics, eye care, neurology, child & women care besides cancer care.
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| Apart from its specialities, with the help of ISRO, Narayana Hrudayalaya has been playing a pioneering role in telemedicine.
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| Narayana Hrudayalaya was started in 2001 by Dr Devi Shetty under the aegis of the Asian Heart Foundation.
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| Devi Shetty, through his initiatives, has been bringing down the cost of cardiac surgeries through what he fondly calls the ‘Wal-martisation of healthcare’, by performing close to 30 open heart surgeries and almost an equal number of catheterisation procedures a day, which is eight times the average at other Indian hospitals. |
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