Srinivas Institute of Medical Sciences and Research Centre, based in Mangaluru, India, has secured the contract to operate and maintain the current hospital with 32 beds and construct a new 150-bed multi-speciality hospital. 

This development of the new hospital at New Mangalore Port is part of a public-private partnership (PPP) initiative aimed at enhancing healthcare infrastructure in the region.  

According to ETInfra.com, the new multi-speciality hospital will be developed with a revenue share offer of 3.7%. 

As part of the latest agreement, Srinivas Institute will hold the exclusive rights to manage the existing hospital for two years and to build and operate the new facility on a three-acre plot for a period of 60 years.  

The existing hospital is owned by the New Mangalore Port Authority and run by the Indian government. 

Anticipated to open by September 2026, the new hospital construction project will be carried out with an investment of Rs1.07bn ($12.86m). 

The facility will cater to the healthcare needs of the employees at the port, retired personnel, their dependents, the Central Industrial Security Force, as well as the non-New Mangalore Port Authority people in the surrounding community. 

Currently, the New Mangalore Port Authority's hospital, spanning 1.3 acres, provides outpatient and diagnostic services primarily to beneficiaries of the port authority.  

Once the new hospital is operational, the existing facility will revert to the port authority. 

The upcoming 150-bed hospital will expand the range of medical services available, which are currently not offered at the existing port hospital, ETInfra.com report noted. 

Srinivas Institute, established by the A Shama Rao Foundation, is affiliated with Rajiv Gandhi University of Health Sciences in Bangalore and recognised by the Medical Council of India. 

Officials anticipate that this project will reduce the annual medical costs for treating port employees and will also serve the healthcare needs of residents within a 5km radius of Kulai, Panambur, Baikampady, Surathkal, and some other nearby areas.  

Additionally, it is expected to create employment opportunities for medical professionals and support staff.