MIOT Hospitals, which specialises in hip and joint-replacement, expects to invest about Rs 300 crore on expanding its operations into areas of specialities such as cancer treatment, organ transplant, bone marrow transplant, plastic and cosmetic surgeries.
More facilities on cards
Prof. Dr P.V.A Mohandas, Chairman, MIOT Hospitals, told Business Line that the hospital – best known for its strengths in orthopaedics – ought to grow to become a multi-speciality hospital, and is in the process of creating additional capacity at its facility in Chennai.
capacity expansion
Although the expansion work is expected to commence right away, the hospital plans to increase its bed capacity from 450 now to 1,000 in three years' time.
To meet the growing needs of patients, the additional capacity will also include 500 rooms and 18 operations theatres, he said.
Funding
On the resources required to fund the expansion, Dr Mohandas said that part of it would be from internal accruals, partly from shareholders and the rest from banks.
Banks are expected to fund about Rs 150 crore of the project, he said.
Performance
To ensure sound financial control, the closely held MIOT Hospitals has appointed a Director-Finance Strategy.
The hospital expects to close the current financial year with a turnover of Rs 145 crore.
Source: http://www.thehindubusinessline.in/2010/02/22/stories/2010022251911300.htm
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