Havells India forays into health care, buys majority stake in CHRC

Faridabad, Nov 12 (UNI) After consolidating its position in electrical product segment worldwide, Havells India today forayed into the health care space by buying a majority stake in the city based Central Hospital and Research Centre (CHRC).

'' A country of a billion plus population presents an enormous need for quality health care facilities. This acquisition is a small step towards creating and providing world class health care facilities,'' Havells parent company QRG Enterprises CMD Qimat Rai Gupta told reporters here.

He said, Havells has put in 70 per cent of the total Rs 30 crore in the first phase, adding that another Rs 20 crore will be invested in the next three months.

According to a joint study by industry body Confederation of Indian Industries (CII) and McKinsey, the private health care form a large chunk of the health care spending, which would rise from present Rs 69,000 crore to Rs 1,56,000 crore by 2012.

Mr Gupta said more acquisition will be done in the health care space in future depending on the output of this acquisition.

He stressed on the health care services saying it is more important for the growing economy.

Commenting on this significant move, Dr Sanjeev Gupta, Head of Operations, CHRC said, '' Central Hospital and Research Centre is well equipped to cater to the growing demand for quality health care facilities in and around Delhi and NCR.'' The CHRC has a 140-bed speciality hospital offering speciality care in many departments such as neuro surgery, plastic surgery, knee and joint replacement surgery.

UNI