ICICI Venture invests Rs 65 cr to improve healthcare in ER

Kolkata, Jan 15: ICICI Venture today announced an investment of Rs 65 crores in Medica Synergie Pvt Limited (MSPL), engaged in improving healthcare facilities, for bettering health infrastructure in eastern India.

MSPL involves a hospital in the city and five to seven district hospitals in West Bengal and neighbouring states. The investment is being made through IVEN Medicare, the special vehicle for healthcare investments across various formats. Speaking on the occasion, Dr Alok Roy, CMD, MSPL, said, ''We aspire to create a healthcare platform that will achieve the dual objectives of low cost and high quality. We do believe that the eastern region is underserviced in healthcare and we are committed to delivering healthcare in the most suitable format for this region.

''We chose to partner with IVEN Medicare as we think that their participation will help and accelerate our growth significantly,'' Dr Roy said.

He informed that apart from hospitals, MSPL was rolling out one hundred retail pharmacy outlets in West Bengal and other states of eastern region.

ICICI Venture and IVEN Medicare Director Aluri Srinivasa Rao observed that MPSL's integrated business model with its team of highly accomplished professionals was an excellent framework for IVEN Medicare to add value and drive cost synergies.

''We believe that Dr Roy and his team have great plans and we will work closely with them to achieve the robust growth plan,'' Mr Rao maintained.

UNI