ITC plans to set up multi-speciality hospitals

Diversified conglomerate ITC Ltd is looking to enter healthcare segment and set up multi-speciality hospitals.

The company’s board has sought the approval of the shareholders for alteration of the memorandum of association to venture into the new sector.

According to a stock market notification on Friday, the company said its board has “recommended exploring and entering the area of healthcare in India” by setting up “state-of-the art world-class multi-speciality hospitals''.

“Such (an) initiative would leverage the company’s repertoire of knowledge and experience in the hospitality and tourism sectors and can be utilised for supporting medical tourism for the country,” ITC further said in an explanatory statement annexed with the notice.

The notice mentions that the company is looking to include the whole gamut of healthcare under its memorandum of association to establish, take on lease or otherwise acquire, promote, set-up, manage, maintain, operate or assist in managing, maintaining or promoting multi-speciality hospitals, medical and healthcare centres, mobile health centres, nursing homes, diagnostic centres, dispensaries, and pharmacies.

It has also included nutrition and dietetic counselling centres, medical colleges, nursing colleges, medical research centres, facilities for training, development and imparting skills to “related manpower”, and to engage in and support medical tourism and all other related medical, surgical, curative and health services and allied activities under its ambit.

COMMENT NOW