Healthcare- News & Analysis

Fortis Healthcare raises funds for Gurgaon Medicity and Shalimar Baug projects

Fortis Healthcare which is aggressively expanding through organic ways – by green field projects and inorganic route – through acquisitions, contracts is plannign to raise funds to the tune of Rs.4500 million through bank loans. Its Gurgaon Medicity project which is a 450 bed hospital is slated for commissioning by end 2011. It may be noted, the company had acquired 10 Wockhardt Hospitals last year.

Apollo Hospitals has achieved finalised financial closure for their Rs 1,500 crore expansion plans

The Chennai based group had raised Rs 300 crore through equity, Rs 200 crore through internal resources, Rs 120 crore through family warranty and rest of the money through loans. The cost of adding one bed is about Rs 50 lakh, said Reddy. Of the Rs 1,500 crore plan, Rs 500 crore has already been invested in 2008-09 to acquire lands and for adding 200 beds (to make a total of 7,450). In 2009-10, the group will add another 844 beds. The remaining part of the plan will be carried out in 2011. The group also plans to set up a medical college in Chittoor district of Andhra Pradesh and in Madurai, Tamil Nadu, on 100 acres and 50 acres of land, respectively. The hospital chain is also planning to set up an Apollo Health City in Hyderabad, with an investment of Rs 150 crore. It is also in the process of setting up a multi-specialty hospital at Bhubaneswar and a Children’s Hospital at Chennai.

Sevenhills Hospitals setting up Asia’s largest private sector hospital in Andheri

Last Updated on Friday, 03 July 2009 09:09

Sevenhills Hospitals setting up Asia’s largest private sector hospital in Andheri in Mumbai is to become operational. The hospital has 15000 beds will start its initial operations with 300 beds is built upon 17 acres and to have 2 million sq. feet with 16 blocks of 11 floors each. The project is funded by a consortium of 10 banks with debt:equity ratio of 1:1.3. Revenue for the hospital is expected to be around Rs.2500 million in the first year and to grow to Rs.4500 million in the next 3 years.

Indian healthcare sector to grow by $ 10 billion