Hinduja Group to invest $1bn in healthcare expansion

Hinduja Group to invest $1bn in healthcare expansion
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First Published: Thu, Mar 08 2007. 01 30 AM IST
Updated: Thu, Mar 08 2007. 01 30 AM IST
Mumbai: The $14 billion (Rs63,000 crore) Hinduja Group is scouting for a partner for its $1 billion healthcare expansion plan.
“We are looking at establishing a chain of hospitals in India and abroad. We are in search for a suitable partner. It may take us three to six months to finalize the plan,” said an executive at the group who did not wish to be identified.
According to a study by the Confederation of Indian Industry, an industry lobby, and consulting firm McKinsey & Co, the Indian healthcare business is worth Rs100,000 crore today and set to grow to Rs270,000 crore by 2012.
The Hinduja Group’s healthcare business, according to the executive, will follow a hub-and-spoke model.
It will have a couple of large multi-speciality hospitals (such as the one the Hinduja group’s trust currently owns and runs in Mumbai) at the centre, surrounded by a larger network of smaller hospitals in various cities, and clinics or daycare centres in small towns.
“We may use our own land for hospitals. Besides we are also looking at other real estate properties,” said the Hinduja executive.
“The plan for the chain of hospitals is in its preliminary stage and it would be too early to comment on that,” said Prabal Banerji, group president finance and group chief financial officer, Hinduja Group India.
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First Published: Thu, Mar 08 2007. 01 30 AM IST
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