Havells India forays into healthcare

QRG Enterprises, promoters of the leading electric and power distribution equipment maker Havells India, has forayed into healthcare service segment.

The company has acquired 70 per cent stake in the 140-bed super speciality hospital, Central Hospital and Research Centre (Faridabad), today. The investments in the hospital segment are routed through its newly floated company QRG Healthcare.

"The acquisition marks the beginning of our entry into the healthcare segment. We have spent over Rs 20 crore for the acquisition and will make an equal investment in expanding the existing facilities. In the next phase, we are likely to go for more such facilities," said Qimat Rai Gupta, CMD, QRG Enterprises.

Havells Group is the latest among the list of established industrial houses that are diversifying into the healthcare segment.

The Paras Healthcare and Apollo Tyres promoted Artemis Health Sciences is among the new healthcare service provider that had recently come up in the National Capital Region.

"Other than oncology and cardiac care, the hospital will provide all other super specialities," said Sanjeev Gupta, head of operations, Central Hospital.

He added that Faridabad, a city with over 25 lakh population, needs at least half a dozen super speciality hospitals. "There is an urgent need for more such facilities in Faridabad. QRG may think of another hospital also in the same region," he said.

In addition to Havells, QRG which has an annual turnover of $1 billion, owns companies such as Standard Electricals, TTL and Havells Sylvania.