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Livewell Healthcare, a promoter of speciality hospitals, has firmed up plans to set up a 120-bedded facility in Cyberabad, Hyderabad and a bigger hospital in the Republic of Guinea, Africa.
The two projects entail a total investment of Rs 55 crore. The Hyderabad-based company has obtained private equity funding from Exhilway Global Opportunities Private Equity Fund, said AMV Sai Kumar, Chairman & Chief Executive Officer.
The US-based fund has key focus on India and Africa-based buyout investment opportunities. It will provide Rs 12 crore of the Rs 25-crore project in Hyderabad. The promoters, Sai Kumar Adapa and Uday Kumar Rachakonda, will raise the balance.
The speciality hospital situated in the heart of the IT hub in Madhapur is expected to be operational in the next couple of months, Sai Kumar told Business Line .
The African hospital is being established in Conakry, the capital of Guinea, which is also the business hub. The port city has seen a sharp growth in mining and agricultural industry with companies like BHP billiton, JICO and Alufor Mining, employing over a lakh personnal. There is, however, a dire need for quality medical care in the country.
The Government of Guinea has offered the Jean Paul II hospital which has 250 beds. The focus of the Rs 30-crore venture would be to deliver multi-disciplinary tertiary level care of international standards along with high-end diagnostic facilities in all fields, Sai Kumar said.
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