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Sterling Hospital To Invest Rs. 120 Cr in Surat & Rajkot
Sterling hospital is going to invest around Rs. 120 crore in setting up
hospitals at Rajkot and Surat. It is also planning to expands its existing
hospital in Ahmedabad, and upgrade a hospital it recently acquired in Vadodara.
The moves follow UK based private equity firm Actis taking a
42% stake for an estimated Rs 72 crore in the hospitals group which is owned by
the promoters of Paras Pharmaceuticals. Sources said Sterling will invest about
Rs 70 crore in setting up a 200 bed super speciality hospital in Surat and
another 150 bed one will be put up in Rajkot at an estimated cost of about Rs 50
crore.
"Even as these Greenfield projects are taken up, Sterling
will continue to scout for acquisitions in Gujarat as well as Rajasthan," says S
Venkatraman, managing director of Sterling AddLife India Ltd.
There is a significant gap in the healthcare infrastructure
available in Surat and Rajkot. Once its hospitals are established in the four
big cities of Gujarat Sterling will follow a hub and spokes model by setting up
smaller 50 beds hospitals in smaller town nearby.
Funding expansions, new projects and possible acquisitions
will not be a problem as Sterling is a zero debt company and it has the funds
raised from Actis. Promoters and Actis will pump in more funds if required for
undertaking any major acquisitions. Sterling is setting up a cardiology facility
at a cost of Rs 5 crore at its Vadodara hospital which it acquired for an
estimated Rs. 10-11 crore a year back. By June 2007, it will expand its existing
hospital to 300 beds from the current 200 capacity. "Thereafter, we plant to set
up a new 200 beds super-specialilty hospital in Ahmedabad as we already have a
piece of land in front of the existing hospital," says Venkatraman. Medical
tourism is a big emerging opportunity and already Sterling is getting
significant flow of Non-Resident Gujaratis as patients. It is also having some
foreigners coming from Africa and the Gulf countries.
"To attract foreigners from the UK and USA, we will have to
get the Joint Commission International (JCI) certification which will enable
insurance companies in those countries to finance patients who come here. We
have got an advisor who is preparing the groundwork so that Sterling's Ahmedabad
hospital can apply for JCI certification," says Venkatraman. Sterling has been
at the forefront of introducing the most advanced medical treatment in the
state.
(Ref : Economic Times dated December 14, 2006)
Medical Tourism Gets Tech Massage
GUJARAT'S medical tourism is ready for the next step. After
wooing patients from countries such as the US, the UK and the Middle-East
through advertisements, state's corporate multi-speciality hospitals are now
forging alliances with hospitals and healthcare consulting firms abroad.
These overseas consulting companies will provide a database
of patients, including foreigners as well as NRIs, who are willing to come to
India for quality treatment at lesser cost. Some of them even offer a complete
service package right from arranging treatment, travel, concierge services,
accommodation and even visas. These firms also help patients to directly contact
the hospitals and doctors. "Once they reach here, the patients are totally taken
care of by respective hospitals," says Alex Kuruvilla , CEO of Apollo (Gujarat).
Corporate multi-speciality hospitals such as Apollo, Sterling
and Krishna Heart Care have already entered into agreements with health
consultants and hospitals abroad.
While Apollo group has a national tie-up with Taj Medical in
the UK, Apollo Gujarat has recently tied up with two other companies, Oceanic
Health in the Gulf and Discover Rediscover in the US. The Taj Medical Group has
even partnered with one of the largest airline ticket consolidators and
wholesalers in Europe to provide flights for the patients at substantially
discounted prices.
"The response of the tie-up is good so far. Apollo received
around 1,000 patients through it. As for Gujarat the tie-ups are recent . We are
expecting good results," says Mr Kuruvilla.
Sterling Hospitals has forged an alliance with two companies
- Global Medicare and Medical Tourists - in the UK, while Krishna Heart Care has
tied-up with Net Solutions.
"They don't charge anything from us. They charge a nominal
fee from the patients to refer them to our hospital. We charge only for
performing procedure," says Dr Bharat Gadhvi, senior surgeon at Sterling
Hospitals. "This will help the medical tourism industry to grow. We are
expecting good results," Dr Gadhvi adds.
The healthcare consulting companies send mailers and call-up
patients giving them an option for getting low-cost treatment in the state.
The Indian government predicts that India's health-care
industry could grow 13% per annum for the next six years, with the inflow of
international patients growing at 30% annually. Gujarat contributes to 25%31% of
this industry in India.
(Ref : Economic Times dated January 5, 2007) |
