Hospital to merge with Vasan Group

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Tiruchirapalli, Dec 7: Maruti Hospital will be merging with the Rs 250-crore Vasan Healthcare Group running the ABC Super Speciality Hospital, 23 eyecare hospitals in the South and chain of retail pharmacy units.

Addressing the press here last Night, Vasan Healthcare Group Chariman A M Arun said the proposed acquisition would upgrade the facilities at both the hospitals.

A New York-based company would jointly invest with the group in the Maruti Hospital to the tune of Rs 50 crore.

The bed strength in both the hospitals would be increased from the present 220 to 500 by July next and departments such as cath lab, cardio thoracic surgery and oncology introduced in a phased manner.

The group would open more eyecare hospitals, taking it to 50 at an additional outlay of Rs 70 crore, in southern states and metros by March next.

The number of pharmacy retail outlets in Tamil Nadu, which currently stood at 12, would be increased to 50 by March 2008 with an additional investment of Rs 25 crore.

To a question, Dr Arun said they were planning a private equity placement of Rs 150 crore in the healthcare sector for which negotiations had already begun.

They had already applied for offering courses in paramedical and nursing streams and hoped to commence classes by next academic year.

The group also proposed to launch a world class medical college- cum-research centre by 2009, near here, for which a site on the outskirts of the city had been identified.


UNI

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