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Jaslok Hospital to invest Rs 300 cr to expand facilities

Press Trust of India  |  Mumbai 

City-based charitable institution Jaslok Hospitals said Monday its board has decided to expand facilities by investing Rs 300 crore over five-six years.

The institution has decided to embark on expansion on its own even as it received high interest from potential suitors. Six bidders, including international chains, had reportedly evinced interest at taking over operations of the hospital located in the tony Peddar Road area.

The board of the trust running the hospital met Monday and decided to embark on an expansion drive, which will entail adding 50,000 sq ft of space and invest Rs 300 crore for it over 5-6 years, its chief executive Jitendra Haryan told PTI.

The funds will be raised from internal accruals and by raising debt, the spokesperson added.

"350-bedded Jaslok Hospital concludes today, that handling of operations and management control will remain with the hospital and rests all speculations about taking over of daily operations," an official statement said.

The expansion plan includes having modular operation theatres, expanded OPD services, catheterisation laboratory, it said.

It will divided into three phases so that hospital operations are not impacted in the interim, it said, adding that the first phase has already begun last year with the creation of a 37-bedded advanced ICU with multi-para monitors, ventilators and waiting area for relatives.

According to a recent media report, the management of the hospital was to be taken over by IHH Healthcare Berhad in a Rs 4,000-crore deal.

The CEO did not disclose the reasons why the plans of a sell-off got started in the first place and if financial difficulties were a reason. He also refused to divulge financial details to illustrate the hospital performance in recent times, citing confidentiality.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 13 2019. 22:01 IST