Super specialty healthcare provider Pancham Hospitals has received investment from financial firm Red Fort Capital to expand its healthcare services in Ludhiana, Punjab, India, reported bfsi.eletsonline.com.
The amount of investment has not been disclosed.
The investment will be used to improve the hospital’s medical infrastructure and introduce new specialisations and technologies.
The nearly decade-old hospital will also extend its services in cardiac sciences to meet the region’s growing demand for quality and low-cost healthcare.
Red Fort Capital chairman and CEO Parry Singh was quoted by the media outlet as saying: “We believe Pancham Hospital, under the able guidance of Dr RP Singh, has the potential to become a top healthcare institution in North India.”
Pancham Hospitals’ chief cardiologist and managing director Dr RP Singh Pancham said: “It will help enhance our medical infrastructure, expand our specialties and services and meet the growing demand for quality healthcare in the region.
“We look forward to working with Red Fort Capital and leveraging our expertise to achieve our growth plans.”
Set up in 2013 by a group of doctors, Pancham Hospitals is 100-bed, multi-specialty tertiary care hospital.
In addition to healthcare sector, Red Fort Capital invests across various industries including FMCG, manufacturing, industrial parks, food processing and real estate.
Managing assets of more than $5bn, Red Fort has invested in several major projects across the country.