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| Global Hosp to invest Rs 1,200 cr in five projects |
| P B Jayakumar / Mumbai Jun 12, 2010, 00:49 IST |
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The Hyderabad-based Global Hospitals Group plans to upgrade itself to a major super-speciality healthcare provider in the country. For this, it will add over 2,000 beds in five projects in various cities within three years with an investment of over Rs 1,200 crore.
“Most of the projects will be funded through internal accruals. We will also rope in private equity funds or go for an initial public offering within one or two years to meet the funds,” said K Ravindranath, chairman and managing director.
At present, the group is more concentrated in the South with four major hospitals and five smaller peripheral facilities in Hyderabad, Chennai and Bangalore with a combined strength of 1,600 beds.
The group, which has been in existence for 12 years and focusses on super-speciality and organ transplantation, will set up a 450-bed hospital at Lower Parel in Mumbai. It will invest Rs 200 crore in the first phase and Rs 100 crore in the second.
The first phase of the project would take off by February 2011 and the second in another six months, added Ravindranath.
Another major project would be a 500-700 bed facility in Delhi with an investment of Rs 400 crore-Rs 600 crore in two phases.
The company will also set up a 450-bed hospital in Kolkata with an investment of Rs 200 crore and a 300-bed facility in Bhubaneswar by pumping in Rs 100 crore. The fifth project will come up in Chennai, for which the group will invest Rs 75-80 crore.
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