Rainbow Children’s Medicare Private Ltd, which runs Rainbow Hospitals, in investing ₹220 crore for expansion over the next two years.
“This investment will primarily be used in our on-going expansion projects in Visakhapatnam, Chennai and Jaipur in setting up new hospitals which will be ready in the next two years,’’ Ramesh Kancharla, Managing Director, Rainbow, told newspersons here.
The Hyderabad-based hospital is likely to raise debt of about ₹75 crore for the purpose.
The remaining funds will be mobilised from internal accruals and other avenues.
Established in 1999, Rainbow now operates hospitals in Hyderabad, Vijayawada and Bengaluru with combined strength of 700 beds.
“The expansion will add about 450 beds to our existing strength.
“Our idea is to set up paediatric specialty hospitals across the country over a period of time,’’ Kancharla said. The results in speciality paediatric hospitals in child healthcare were better than multi-speciality hospitals, he claimed.
Rainbow has also roped in Telugu actor Mahesh Babu as its goodwill ambassador.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.