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| HealthCare Global plans to foray abroad |
| Praveen Bose / Chennai/ Bangalore Feb 25, 2010, 00:53 IST |
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HealthCare Global Enterprise Ltd (HCG), the Bangalore-headquartered pan-India chain of 20 super-speciality cancer care hospitals, is now seeking to expand abroad. The healthcare group, which till now has attracted Rs 150 crore of investments from private equity firms, will make its maiden foray abroad with its entry into Bangladesh as a joint venture.
HCG said, it will set up a cancer division in a 400-bed hospital in Bangladesh. The group will set up a 50-bed facility that will focus on oncology with an investment of Rs 15 crore on the facility, excluding the real estate cost. Also on the cards is its entry into Sri Lanka, where it is in talks with a healthcare provider. In addition to that, the group also aims to enter Africa where it will first test the waters with some clinics run by it. It will use telemedicine to extend medical care.
“We will use video conferencing facilities there and try to interconnect all hospitals of the group,” said Dr B S Ajaikumar, Chairman, HCG Enterprises Ltd.
The chain, which has 1,250 beds across its 20 hospitals in the country aims to add about 300 beds over the next year. Meanwhile, the group aims to go public by the end of next year.
While a multi-speciality hospital has an average EBITDA of 16 per cent, a super-speciality chain has EBITDA of 20 per cent. This is said to be the reason for super-speciality hospitals and hospital chains attracting more interest from investors.
The HCG has also acquired a six-acre plot of land on the way to Devanahalli from Bangalore. “The plans for the project are on the verge of completion,” added Dr Ajaikumar.
Future plans of the group, he said, includes a cyberknife facility in Mumbai and New Delhi respectively. In addition to that it also plans to expand its main facility in Bangalore where it will soon complete a surgical centre.
To make its facilities more affordable HCG has introduced the concept of paying the cost of treatment as EMIs. But, said Dr Ajaikumar, one hurdle to bringing down the cost of cancer treatment is the price of drugs many of which have patents still on them and are hence prohibitively priced.
The doctor hopes that in the near future he may be able to make cancer care affordable to more people. Once he gets the scale, he aims to approach the drug firms and try to get them to agree to payment for the drugs in EMIs just like the patients are able to do to secure treatment.
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