JBIC to invest into Takshasila Hospitals

Japanese entities involved are looking for global expansion

The Japan Bank for International Cooperation (JBIC) plans to invest around Rs 63 crore in Takshasila Hospitals Operating Pvt Ltd, a general hospital in Bangalore, jointly operated by three investors — Secom Co Ltd’s subsidiary Secom Medical System Co Ltd, Toyota Tsusho Corporation and Kirloskar Group. This is the first time JBIC is investing in medical business, said the company.

JBIC has agreed to the issue and subscription of preferred stocks through a third party allocation for Takshasila, which has established a 294-bed general hospital Sakra World Hospital in March 2014.

“Based on the Emergency Economic Measures for The Revitalization of the Japanese Economy (January 11, 2013 Cabinet Decision by the Government of Japan), this recent investment by JBIC utilises JBIC’s ‘Loan Facility Enhancing Global Business Development’ established in February 2013 with the objective of facilitating the expansion of Japanese businesses in overseas markets,” said an announcement from Toyota Tsusho.

Participation by JBIC as a shareholder will lead to greater stability and increased creditworthiness of this business, and also will contribute to maintain and improve the international competitiveness of Japanese industries, it said. In addition, this is a way to support global development of Japanese-style medical technology and services also based on a government of Japan policy.

The Sakra World Hospital was established in April, 2012, with an investment of Rs 233 crore, and has six core centres, including neuro sciences, cardiac sciences, digestive and hepatobiliary sciences, ortho sciences, kidney and urology, and obstetrics and gynaecology / paediatrics, and 17 diagnosis and treatment departments.

Secom Medical System which has collaborated with 18 hospitals to provide communities in Japan with top-level healthcare services is planning to aggressively expand its business globally, expecting an increased demand for high-level healthcare services in emerging countries.

Toyota Tsusho, which is focusing on its hospital, medical care-related services and nursing business, is also looking to expand its healthcare business in various countries including India, it said.