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May 13, 2012

Indian healthcare firm to invest $92m in hospital expansions

Moolchand Healthcare in India will spend Rs5bn ($91.82m) over five years to expand existing operations and to acquire new hospitals.

By admin-demo

Moolchand Healthcare in India will spend Rs5bn ($91.82m) over five years to expand existing operations and to acquire new hospitals.

The healthcare firm plans to expand Moolchand Hospital in Delhi, set up new green field hospitals, acquire existing hospitals and develop new healthcare service verticals such as diagnostics, renal care and fertility.

Moolchand Healthcare CEO Shravan Talwar said, "India’s demographics and changing disease profiles coupled with supply side bed capacity deficits and nascent healthcare service markets offer significant opportunities for innovative, high quality institutions."

The company expects to raise the funds through a mix of debt, equity and internal accruals, and has already raised Rs1bn ($18.36m) from venture capital fund Sequoia Capital.

South Delhi’s Moolchand Medcity is expanding its current campus to over 1,000 beds and six speciality hospitals, the company said. In the first phase, 400 additional beds will be commissioned by 2014.

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