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Artemis Medicare Services Ltd. has raised ₹330 crore funding in the form of compulsorily convertible debentures (CCDs) from International Finance Corporation (IFC), a member of the World Bank Group.
The investment will help improve healthcare accessibility and quality by supporting its growth plans in bed capacity, introducing newer medical treatment specialities, and establishing cardiac care centres in Tier 2 and 3 cities, per a stock exchange filing by the company.
Onkar Kanwar, Chairman, Artemis Medicare Services, said, “IFC’s partnership aligns with our vision and mission to create integrated world class healthcare system and introducing cutting edge technologies to solve complex health issues for all sections of society. We are already in advance stages of adding 200 new beds through our brownfield expansion in our flagship hospital. This investment will allow us to further expand our coverage in Delhi NCR and select tier 2 and 3 cities.”
Artemis Medicare Services stock rose 2.46 per cent on the BSE to close at ₹187.70, show provisional data on the exchange.
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