Children's healthcare chain Rainbow Group of Hospitals is planning to open two new hospitals in the country, adding a total of over 320 beds, at a total investment of around Rs 150 crore by the end of 2019, a top company official said.
The company currently has 10 hospitals across the country with around 1,080 beds.
"We are planning to open two new hospitals, one each in Chennai and Visakhapatnam by the end of 2019. Both the hospitals will have 150 beds each.
"Apart from this, we will be adding some more beds in our hospitals in Bengaluru and Vijayawada," Rainbow Group of Hospitals Chairman and MD Ramesh Kancharla told PTI.
The total investment on these will be around Rs 150 crore, he added.
When asked about how the company plans to fund the expansion, Kancharla said: "It will be through internal accruals and long term funding."
The company follows asset light model, so the investment from our side is on interiors and medicare infrastructure, he added.
Rainbow Hospitals Group started its first hospital in India in 1999. Currently it has multi-speciality children hospitals in Hyderabad, Vijayawada, Bengaluru and Delhi.
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