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M. Ramesh

Plans Rs 10-crore retinal care centre in Chennai

Chennai March 27 Dr Agarwal's Eye Hospital Ltd proposes to spend Rs 35 crore in 2007-08 on expansion. The hospital company intends to put up a 10,000 sq ft building next to its headquarters in Chennai at a cost of Rs 10 crore. This building will be earmarked for treating patients with retinal defects.

The rest of the proposed expenditure will be made on increasing the number of its satellite centres from the existing 14 to 25 across the country, Dr Amar Agarwal, Joint Managing Director, Dr Agarwal's Eye Hospital Ltd, told Business Line.

The proposed expansion of the main facility is necessary in order to accommodate the growing number of patients, Dr Agarwal said. The number of surgeries has doubled to 1,500 a month over the last one year. Dr Agarwal expects this to further increase to 3,000 a month over the next year.

The effect of the increasing number of patients is reflected in the company's results. Turnover for the nine-month period has increased to Rs 15.49 crore against Rs 13.22 crore for the whole of last year. Similarly, net profit has gone up to Rs 1.50 crore against Rs 58 lakh for the full year 2005-06.

The expenditure for expansion is being met by a preferential allotment of shares to the promoters' family.

Research focus

Dr Agarwal said that research was a key activity at the group. Through its Eye Research Centre, the hospital conducts free eye camps and provides free cataract surgeries for the poor. As many as 600 surgeries are done free of cost each month, he said. Of course, the data generated by the surgeries helps strengthen the hospital's research activities.

The hospital has several `firsts' to its credit. For example, Dr Amar Agarwal is acknowledged worldwide as pioneering the concept of micro-phakonit cataract surgery. This `minimally invasive' surgery takes place through a hair's breadth incision of 0.7 mm and as a result, the patient is up and about as soon as the surgery is over.

Eye implant

Another pioneering effort is the application of an eye implant — an intra ocular lens embedded with tiny reflective mirrors that focus light on to the retina. In other words, the lens works on the same principle as a reflective telescope and helps a patient with a weak retina to see better.

More Stories on : New Projects | Medical Institutions & Hospitals | Health

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