ICICI to invest USD 250 million in health sector

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Bangalore, Jan 28 (UNI) ICICI Venture, a subsidiary of India's largest private sector bank ICICI, will invest over USD 250 million in the country's healthcare industry through its Healthcare SPV Iven Medicare India Private Limited, Director of ICICI Venture Aluri Srinivasa Rao today said.

Speaking to newspersons here, he said the Company had invested over USD 80 million to develop its infrastructure facilities in four healthcare institutions in India.

He said the Company was also planning to invest another USD 170 million in the health sector in the coming years.

Iven Medicare had provided a financial assistance of USD 24 million to Mysore-based Vikram Hospital, he said, adding that the hospital had introduced advanced healthcare facilities and service in Mysore had plans to expand its bed strength from the present 300 to over 2,000 in the next five years.

The Vikram Hospital Managing Director Dr S B Vikram, who also present at the press meet, said the hospital would expand its base beyond Mysore and would have a pan Karnataka footprint of higher secondary and tertiary care hospitals at various districts.

He said the it would open a super speciality heart and cardiac care hospital in Mandya. There was also a plan to set up a super speciality hospital at Waynad in Kerala, he added.

UNI MV RM DS 1541

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