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Narayana Hrudayalaya explores more international opportunities

Press Trust of India  |  Mumbai 

Narayana Hrudayalaya, which recently completed the acquisition of City Cayman Islands (HCCI) in the Islands, is now exploring more international

Last month, it had completed the buyback of the remaining 71.4 per cent shareholding in City Cayman Islands (HCCI) from Ascension Ventures for USD 32.26 million.

HCCI is the largest hospital in the Caribbeans attracting patients from the Cayman Islands, the and

"We are optimistic that this experience will act as a stepping stone for us to further explore the untapped international healthcare market. The success we achieved at this facility, in terms of the unit breaking even at monthly EBITDA level in the 24th month and making net profit by the 11th quarter, has bolstered our conviction to operate in such territories," Ashutosh Raghuvanshi told an earnings call conference over the weekend.

On the operational front, it had tied up with all the major companies in the region and had also entered into an understanding with airlines to improve connectivity to the region.

"On the clinical front, our outcomes are at par with the major in the advanced regions like the US. These endeavours have strengthened HCCIs brand recognition in the region" he said.

Going ahead, they are planning certain operational streamlining in the facility which is expected to give a further boost to profitability.

"We expect this hospital to evolve as a major in the region in times to come," Raghuvanshi said.

In the domestic market, the company had spent Rs 70 crore towards normal and routine maintenance and upgrades in the first 9 months this year and had plans to soon spend around Rs 50 crore in its recently acquired facility, Debangshu Sarkar, and acquisitions, said.

Raghuvanshi said that the facility was close to commissioning, adding that this unit would be complementary to its in east

The east facility was gaining traction due to its upgrade from a centre to a full-fledged multi super-specialty one, he added.

Raghuvanshi said that its was a newly-constructed one in which a partner had invested in the land and building while had invested Rs 50 crore worth of equipment.

Raghuvanshi said, "We remain confident that despite the continuing regulatory headwinds in the domestic healthcare ecosystem, which is undergoing a sweeping overhaul, there are lots of opportunities lying untapped.

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

First Published: Sun, February 11 2018. 23:00 IST