Eye-Q will set up 30 eye hospitals in 5 yrs

Gurgaon-based specialty eye care chain Eye-Q is planning to invest Rs 240 crore in phases to set up 30 eye hospitals and 70 affiliated centres throughout the country over the next five years (2012).

Out of the total, 10 eye hospitals and 20 affiliated centres would be set up in Punjab, Haryana and Chandigarh after the completion of Phase III expansion, which is likely to be completed by 2012. Also, the company plans to extend its services overseas in selected countries.

Speaking to Business Standard, Managing Director and CEO, Rajat Goel said, " The chain would follow a Hub and Spoke model with a fully equipped hub hospital in a large city serving 2-3 hubs within a 40-50 km radius."

The company currently has one eye care hospital (hub) in Gurgaon and would start its first affiliated centre (spokes) in Rewari and Dwaraka in next 3-6 months.

It would target Delhi and Haryana in the first phase of expansion. In the second phase, they intend to cover the entire north India including Rajasthan, Uttar Pradesh, Punjab and Chandigarh while they would have a pan India presence through 30 hospitals by the end of third phase in 2012.

The first and second phase of the expansion is expected to be completed by 2010 and would be funded through investments by the shareholders while the third phase would be funded through internal accruals.