DM Healthcare will invest over Rs21.5bn ($388m) to develop a range of healthcare facilities in the Indian state of Kerala.
The projects will include the Rs5bn ($90m) Aster Medcity phase-I, which consists of a 550-bed core hospital with nine centres of excellence (COEs) in various super-specialities such as cardiology, ortho and oncology.
The Aster Medcity campus in Kochi will also have a convention centre, a 4-5 star hotel, an apartment complex for medical staff and a residential facility.
The first phase of Aster Medcity is scheduled to be commissioned in the second half of 2013.
DM Healthcare chairman Dr Azad Moopen said Kerala is a high priority destination for the group’s investment in India due to the demand for advanced healthcare facilities in the state.
"Kochi is very well connected to the world by air, road, rail and sea," Dr Moopen added.
"A proactive government, a vast healthcare human resource pool, and a beautiful natural environment further stimulate the growth of Kerala’s economy.
"We see this as an opportunity to develop the Aster Medcity that will not only support the medical requirements of the state and country, but also provide venue for medical tourism to the country from abroad."
DM Healthcare will invest Rs3bn ($54) in the existing Malabar Institute of Medical Sciences (MIMS) facilities over the next three years to develop a 150-bed Women and Children block at MIMS Kozhikode and to add 150 beds at MIMS Kottakkal.
MIMS will construct a 250-bed hospital at Kannur and a 200-bed hospital at Palakkad as part of its expansion.
The Dubai-headquartered DM Healthcare is also constructing a medical college with a 700-bed hospital in addition to three Aster Cluster hospitals.
Image: DM Healthcare is to develop a medical township, super speciality hospitals and a medical college campus in the Indian state of Kerala. Photo: courtesy of DM Healthcare