The Hindu Business Line : CARE Hospital plans expansion

Hyderabad, July 1 Hyderabad-based CARE Hospital will invest Rs 200 crore over the next one year in creating new infrastructure, high-end equipment and expand its presence to six new States. The hospital is also planning to set up a medical school soon.

“We have completed 10 years in healthcare services and are planning major expansion over the next ten years. In the next one year, we will invest over Rs 200 crore in expanding our existing network in Andhra Pradesh and expand to other States,” Dr N. Krishna Reddy, Chief Executive Officer, CARE Hospital, told newspersons here on Thursday.

6 states

The hospital is launching operations in six States – Madhya Pradesh, Maharashtra, Chattisgarh, Gujarat, Orissa and Kerala. “By September this year, our hospital will be functional in Bhubaneshwar and Surat,” he said.

The funds for expansion would be mobilised through debt, equity and internal accruals. “We will raise Rs 50 crore debt, Rs 90 crore private equity while internal accruals will pool in the rest of Rs 200 crore,” Dr Reddy said.

Dr B. Soma Raju, Chairman, CARE Hospital, said plans were afoot to start a medical school.

Dr P. Krishnam Raju, Head, CARE Foundation, said rural hospitals would be launched in different parts of the State. “Currently, we are operating a rural hospital in Lakkavaram in East Godavari district and we plan to take them to other areas as well,” he said.

The Foundation is currently in talks with “some globally reputed institutions” for collaborative research projects, he added.

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