Vasan Healthcare Pvt Ltd is planning to invest Rs 400 crore for expansion of its eye care hospital network, dental clinics and entry into other verticals before March 2012. It has plans to set up 45 eyecare hospitals, 15 dental clinics and entry into invitro fertilistation, urology and skin care business, with the investment.
The company, which at present has a network of around 80 eye care hospitals, will invest Rs 300 crore out of the total investment for setting up 45 new eye care hospitals. Another Rs 100 crore would be for setting up 15 dental clinics and entry into new areas, said A M Arun, chairman and managing director, Vasan Healthcare.
"Around Rs 200 crore of the investment would be from debt and Rs 100 crore from internal accruals and for the expansion. We are yet to decide on how to go about the rest of Rs 100 crore investment," said Arun. The company will have 125 eye care hospitals and 30 dental clinics with completion of expansion projects.
The company has announced plans to set up 28 eye care hospitals in in North, West and East region of India, including four in New Delhi and Mumbai, five in Kolkata, and cities like Surat, Ahmedabad, Baroda, Rajkot, Nagpur, Pune, Kolhapur, Nashik, Amritsar, Jalandhar, Ludhiana, Chandigarh, Indore, Bhopal and Bhubaneshwar. Each hospital would be set up with an investment of Rs 7 crore, he added.
The standalone invitro fertilisation, urology and skin care clinics would be primarly set up in south India, starting with one centre in each segment by June, 2011. The company is planning to set up five clinics in each segment as pilot project in first one year, said Arun. It has also plans to set up its operations in Dubai and Colombo by April 2011 and in Africa, Oman, Abu Dhabi, Sharjah and Doha in the next couple of months. He also said that the company's plan for going public is on right track and the IPO would be in place in next fiscal year.