SPS Apollo to set up hospital in Ludhiana

Ludhiana-based SPS Apollo, a part of the Apollo Group, plans to set up a 200-bed cancer hospital in Ludhiana with an initial investment of Rs 25 crore. It also plans to set up a nursing college in Ludhiana at a cost of Rs 5 crore.

The projects will be funded through internal accruals and term loans.

The hospital also plans to open marketing offices in the US, Canada and UK to attract non-resident Indian (NRI) patients and boost medical tourism.

The building plan for the proposed cancer hospital has already been sent for approval to the Bhabha Atomic Research Centre (BARC).

"We are hopeful that the project will be completed by December 2008. The nursing college is also likely to be operational by the same time," said Director, Apollo, Jugdiep Singh.

He added that the hospital plans to offer a global nursing programme.

The group already runs a 350-bed multi-specialty tertiary care hospital based in Ludhiana. Last financial year, the company's turnover was Rs 32 crore and this year it isexpected to touch Rs 50 crore.

"The hospital has become the first multi-specialty tertiary care hospital in South East Asia to achieve accreditation from Joint Commission International (JCI), US within just two years of starting operations," he said.

He added that the JCI accreditation would raise the standards of healthcare in Chandigarh, Punjab, Haryana, Himachal Pradesh and Jammu & Kashmir. It will also attract NRI patients, who tend to opt for hospitals accredited by an international medical authority.

Medical tourism is forecast to become a $2.3 billion business for India by 2012. Some analysts predict it could be the next major driver of the Indian economy after information technology.

"We are in process of applying for certification by the US-based National Accreditation Board of Labs Service," Jagdiep added.