Care Hospitals to invest Rs 200cr

Hyderabad-based Care Hospitals, which has completed 10 years as a healthcare provider, has lined up investments of over Rs 200 crore during the next one year in creating new infrastructure, including establishment of hospitals in Madhya Pradesh, Maharashtra, Chattisgarh, Gujarat, Orissa and Kerala. It also proposes to set up a medical college here.

According to N Krishna Reddy, director and chief executive officer, Care Hospitals has recently acquired Lokamanya Hospital in Pune and Ramakrishna Hospital in Raipur.

It is setting up 100-bedded hospitals in Bhubaneshwar and Surat. It also proposes to establish a hospital at Indore in Madhya Pradesh. By the end of this year, Care will have 5,000 beds across the country.

Reddy said that the hospital's expansion plan would be funded through a debt of 50 crore, equity of Rs 90 crore and internal accruals of over Rs 40 crore.

Care posted a turnover of Rs 180 crore in 2006-07. Care's vision for the next decade was to have 10,000 beds and emerge as one of the top five hospitals in the country. It currently has 1,000 beds.

"With a concrete plan to expand its model of healthcare delivery across the country, Care Hospital is rapidly scaling up its tertiary care operations alongside piloting models for secondary and primary healthcare delivery," hospital chairman Soma Raju said.