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Wockhardt lines up three hospital projects
"We have acquired land in Pitampura and plan to set up a 225-bed hospital in the Capital with an investment of about Rs 100 crore," he said.
Wockhardt Hospitals, a unit of the Wockhardt group, is all set to emerge as a national player in the healthcare sector. The company has lined up a couple of projects, which will happen this year and which will help it build its presence across the four geographical regions in the country. Wockhardt Hospitals vice president (operations) Vishal Bali told ET that Wockhardt will start setting up a new hospital in New Delhi and will also build a second hospital in Kolkata.
"We have acquired land in Pitampura and plan to set up a 225-bed hospital in the Capital with an investment of about Rs 100 crore," he said.
The hospital is expected to be commissioned by the end of year 2005 and mark the company's foray in the northern region, which is now dominated by healthcare players such as Max, Fortis, Apollo and Escorts.
Wockhardt Hospitals has also acquired land in Kolkata where it will build a multi-specialty hospital. "The existing facility is operating at almost 95% capacity utilisation," Mr. Bali Said. The existing hospital in Kolkata offers services in urology and nephrology. Last year, Wockhardt committed Rs 500 crore towards five more hospital complexes in the next three years. The five new projects include one in Bangalore and Kolkata and two in Mumbai. In addition to the two greenfield projects, Wockhardt will commission its second hospital in Bangalore next year. Unlike the first hospital, which focuses on cardiology, this hospital will offer services in multiple specialties cardiac, orthopaedic, neuerology.
In the coming year, Wockhardt Hospitals may also explore acquisition opportunities. "There is a lot of potential in the smaller towns and metros," Mr. Bali said.
Earlier this year, Wockhardt made its first healthcare acquisition in Nagpur, where it has launched the Wockhardt Heart Hospital. The acquired hospital was set up in 1998. The 50-bed hospital will offer all cardiac care procedures and is expected to cater to central India.
(Ref : Economic Times Dated December 14, 2004)