Financial Daily from THE HINDU group of publications
Saturday, Oct 16, 2004
Industry & Economy
Medical Institutions & Hospitals
Global to set up Rs 175-crore hospital in Kolkata
Hyderabad , Oct. 15
GLOBAL Hospitals, Hyderabad has firmed up plans to establish an Rs 175 crore multi-organ transplant hospital in Kolkata, on a 25-acre land offered by the West Bengal Government.
The 750-bed hospital to be built in three phases is expected to become fully operational by January 2007.
Announcing this, Dr K. Ravindranath, Managing Director of Global Hospitals, said at least seven large business houses from West Bengal have agreed to pool in funds to pick up equity in the venture, whose first phase, involving Rs 100 crore investment for 350 beds would begin in February 2005.
Dr Ravindranath said Global Hospitals would be the major equity stakeholder in the venture, which is planned to have around Rs 40 crore equity.
The seven major business houses from Kolkata would have small equity. In addition, some leading specialist doctors of West Bengal origin from the US, the UK, Australia were willing to invest in equity as well as head key department's by returning, he said.
The West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, not only agreed to provide 25 acres land in a township near the Kolkata airport at subsidised price, but also expressed keenness to promote healthcare facilities.
The Bengal Chamber of Commerce and Industry has played a major role in seeing the project proposal through, he told newspersons on Friday.
Global Hospitals, a unit of Ravindranath GE Medical Associates Pvt Ltd, set up the first major transplant hospital in Hyderabad five years ago. The Rs 40-crore Hyderabad Hospital has broken even and is expected to make profits this year, Dr Ravindranath said.
The Kolkata Centre would include an institute of gastroenterology, liver and pancreatic diseases, heart & lung institute, kidney, neuro, orthopaedic, eye and trauma centre. In addition, it would also have a research and development facility, a hotel and training facility, he said.
The Kolkata location is expected to serve the needs of the eastern, north-east and also attract patients from Nepal, Bhutan, Bangladesh and some South East Asian countries, the Global Hospitals chief said.
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