Prashanthi Balamandira Trust invests Rs 400 cr to strengthen operations

The Prashanthi Balamandira Trust on Monday said it plans to invest an additional Rs 400 crore to expand its recently inaugurated medical college and hospital in Karnataka.

On March 25, Prime Minister Narendra Modi inaugurated 'Sri Madhusudan Sai Institute of Medical Sciences and Research' (SMSIMSR) & 'Sri Sathya Sai Rajeswari Memorial Block', a completely-free-of-cost medical college and hospital, at Sathya Sai Grama, Muddenahalli in Chikkaballapura district.

"The Prashanthi Balamandira Trust, which manages the Sri Madhusudan Sai Institute of Medical Sciences and Research, will spend another Rs 400 crore in the next phase for the construction of another 400-bed teaching hospital and related facilities to complement the medical college," its Founder Sri Madhusudan Sai said in a statement.

The trust is working with like-minded individuals, philanthropists and corporate partners for this unique free education model, he added.

"The trust is expected to spend around Rs 125 crore to Rs 140 crore per year in operating expenses as the number of medical seats increase in the next five years for the Sri Madhusudan Sai Institute of Medical Sciences and Research," Sai said.

It has collaborated with several leading corporations, including the Bharat Petroleum Corporation Ltd, Dell Technologies, Cipla, Karnataka Bank, and ICICI Bank, among others, to create a cost-effective medical education model, he added.

The Sri Madhusudan Sai Institute of Medical Sciences and Research at Sathya Sai Grama, Muddenahalli will commence operations this fiscal.