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Narayana Hrudayalaya plans Rs 500 cr expansion, to enter Africa
November 19, 2017
Leading private sector hospital chain Narayana Hrudayalaya has chalked out a Rs 500 crore expansion plan, which will see it entering high-value markets in the country over next three years as well as making a foray into Africa. 'After acquiring Health City, Cayman Islands, which is our sole overseas venture so far, we now plan to consolidate our domestic presence by entering the high-value markets like Delhi-NCR and Mumbai. We're also exploring opportunities in Africa,' Narayana Hrudayalaya's vice-chairman and managing director Ashutosh Raghuvanshi told PTI here over the weekend. He said domestic expansion will be through a cluster- based approach and the initial focus will be Delhi-NCR. For overseas expansion, Raghuvanshi said, they have signed agreements with local partners in the Kenyan capital of Nairobi, for which they have also signed an agreement with an international financial institution for funding. This will be a greenfield project. The domestic expansion will be in Delhi-NCR and Narayana will be commissioning a 200-bed hospital in Gurugram in January, he said, adding the capacity will be ramped up to 350 beds over next one-and-a-half years. Narayana recently opened its first hospital in Mumbai - the SRCC Children's Hospital, which is the only paediatric hospital in its portfolio. The super-speciality tertiary care for children has already completed 300 surgeries and screened 5,000 children in the outpatient department. On investments, Raghuvanshi said, 'We're looking at an investment of Rs 500 crore over the next three years. Our focus is on continuously investing and upgrading existing and new hospitals in the country with a capex plan of Rs 100-150 crore per year.' He said most of the annual capex will be used to improve technology, equipment and supply chains. Narayana has invested Rs 55 crore in Mumbai hospital in the first phase and an additional Rs 25 crore will be invested to increase capacity to 380 beds in the second phase, said Raghuvanshi. The company had picked up......
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