India’s Oxymed Seeks to Raise Funds for Expansion Project

10 September 2009 (Last Updated September 10th, 2009 18:30)

India's Oxymed Hospitals is looking to sell a 20–25% stake to raise funds to build an expansion to cater for its growing foreign patient base, India's The Economic Times reports. The 120-bed non-surgical speciality hospital hopes to raise Rs30 crore to build a 200-bed faci

India's Oxymed Hospitals is looking to sell a 20–25% stake to raise funds to build an expansion to cater for its growing foreign patient base, India's The Economic Times reports.

The 120-bed non-surgical speciality hospital hopes to raise Rs30 crore to build a 200-bed facility and is in discussions with investors in the Gulf to secure investment, the news agency reports.

Oxymed is looking at developing a five-acre property near the airport in the state of Chennai to serve its foreign patient base that has increased to 50% from 10% in recent years.