Ranbaxy, Cigna Plan Healthcare Insurance Jv

Ranbaxy Laboratories will enter into a joint venture with US-based Cigna Corporation, a leading healthcare insurance company, to offer healthcare insurance in India. While Ranbaxy's stake in the venture will be 76 per cent, Signa will hold the balance.

Malvinder Mohan Singh, general manager , market development, Ranbaxy said, if required we might look for a domestic ally as a third partner to the venture.

"However, an exact plan will be ready only by June-end," he said. Initial investment in the venture will not exceed Rs 100 crore, a minimum sum required to set up healthcare insurance company in the country.

 

Ranbaxy's recently-launched venture, Fortis Healthcare Ltd, is also setting up its first project, a Fortis Heart Institute at Mohali in Chandigarh, for Rs 155 crore.

Specialising in integrated healthcare delivery, Fortis Healthcare was floated by Parvinder Singh and Infrastructure Leasing & Financial Services (IL&FS).

About the plans of Fortis Healthcare, chairman Harpal Singh said that while this first project should break even in the third year, we will also set up a network of super specialty healthcare delivery centres in north-west India over the next 10 years.

Spread across an area of 8.3 acre, the upcoming 190-bed centre at Mohali will form the hub of the entire healthcare delivery network and will be linked to the medical centres around the region in a hub-and-spoke model.