Panacea Biotech forays into healthcare delivery

For delivering the same, the company has entered into a collaboration with Dr Umesh Gupta of Umkal Group for the hospital.

The total cost of the hospital will be funded by a mix of debt and equity.

Rajesh Jain,Joint MD, Panacea bitech said, "Entering into private health care is an integral part of our long term strategy that would take us closer to our vision of becoming a leading health management company. The potential market for a corporate hospital will  comprise of the very rich consuming class and a part of the climbers which would be close to 25-30 % of the market. The coming up Medical Institute will enable a great healthcare environment affordable to people from all walks of life. We would also target medical tourism especially the category of medical traveller from developing countries".