Cloudnine Hospitals, the Bangalore-based hospital chain focussing on infant and maternity care, has forayed into paediatric care with the launch of the first such hospital in Bangalore. The hospital chain is firming up plans to expand into major cities outside Karnataka. It plans to open two more hospitals outside Karnataka this year and add another three next year, and it will include both models, infant and maternity care and paediatric care hospitals.
Cloudnine, which today has seven facilities, is a venture of the Kids Clinic (Bangalore) Private Limited, owned by Dr Kishore Kumar, and Scrips N Scrolls India, a company into property development and investments.
Though Dr Kumar declined to specify the amount of investment being made for the expansion, it is learnt that the hospital chain is looking to raise over Rs 100 crore to fund its expansion plans.
The company may not need to generate more funds for its expansion as its present facilities are beginning to turn in profits, Dr Kumar added. The company had earlier told Business Standard that it is looking to expand into Mumbai, Chennai and Hyderabad through the inorganic route. But, the company did not confirm where it plans to open the next set of hospitals.
Kids Clinic Bangalore Private Limited had raised Rs 45 crore in its first round of institutional funding from Matrix Partners about one and a half year ago. While till now the chain had managed to do greenfield projects, it is now planning to look at brownfield projects.
"In the metros we are looking at brownfield projects for our expansion," company sources said, adding "The funds raised will be used for increasing our footprint in Bangalore and also expand into other metros."
Meanwhile, as part of its expansion, it is also targetting Tier-II cities. But, in the case of the small towns, it needs greenfield projects. In Mysore, it's in the process of setting up a greenfield project.
On Tuesday, the company inaugurated its 42-bed paediatric hospital of 18,000 square feet which it set up for Rs 20 crore.
