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Wockhardt Hospitals to invest INR 569 cr in growth

Wockhardt Hospitals, associate of Harvard Medical International (HMI) a self supporting not-for-profit subsidiary of Harvard Medical School has chalked out a growth strategy with an investment of INR 5.69 billion in expanding, developing and constructing both greenfield and brownfield expansion plans. The company plans to leverage growth model with flexible expansion plans. Since 2000, it has grown from three hospitals, with 139 beds, to a network of 10 super-specialty hospitals and five regional specialty ICU hospitals, with a total of 1,374 in-patient beds. Besides establishing additional healthcare facilities, the company plans to strengthen its presence in cities, such as Bangalore, Mumbai, Kolkata, Hyderabad and Delhi, by expanding the current operations through new greenfield and brownfield projects, as well as increasing beds at existing hospitals. For example, it is currently expanding bed capacity at Wockhardt Hospital, Mulund (Mumbai) and it intends to add 270 beds in total. The Mulund facility is super-specialty hospital which is one of the first hospitals in South Asia that received international accreditation from Joint Commission International (JCI), the largest accreditor of healthcare organizations in the United States. The company is pursuing brownfield projects in selected tier II cities, such as Madgaon (Goa), Bhopal, Nashik, Bhavnagar, Ludhiana, Jabalpur, Bhuj, Patna, Hubli and Varanasi. In most of these cities, it expects to be among the first major private healthcare services providers to commence focused tertiary care operations, which it believes will help it attract patients, recruit better medical personnel and establish benchmarks for care and sustainable operations. Publisher’s Disclosure – Bennett , Coleman & Co. Limited holds 1.55% of the post public issue equity capital of Wockhardt Hospital Limited.

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