Drug firm Panacea Biotec today said it will foray into the healthcare sector and plans to set up a super specialty hospital in Gurgaon at an investment of nearly Rs 145 crore which will be operational by 2012.
“We will be spending approximately Rs 145 crore in what is going to be a 220-bed capacity super specialty hospital in Gurgaon,” Panacea Biotec Joint Managing Director, Mr Rajesh Jain said.
The hospital will be owned and managed by ‘New Rise Super Specialty Hospital’, a privately held company in which Panacea Biotec holds 76 per cent equity and 24 per cent equity is being held by Umkal group, he added.
On being asked about how the company was planning to raise the financials, Mr Jain said: “The money will be raised by 75 per cent debt and by 25 per cent equity.”
The multi super speciality hospital will focus on neurosciences, orthopaedics, oncology, urology and cardiac care, Mr Jain said.
When asked about the reasons for the foray in the healthcare sector, Mr Jain said: “Healthcare is growing in India and is a very attractive field. There is also a huge demand and supply gap.”
Shares of Panacea Biotec today closed at Rs 177.55 on Bombay Stock Exchange (BSE), up 0.59 per cent from its previous close.