ICICI to invests over 250 Million USD on healthcare

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Bangalore, Jan 28: ICICI Venture, a subsidiary of India's largest private sector bank ICICI will invest over 250 million dollars in the Indian healthcare industry through its Healthcare SPV Iven Medicare India Private Limited, Mr Aluri Srinivasa Rao, Director, Investments ICICI Venture informed here today. Speaking to newspersons here today, Mr Srinivasa Rao informed that the ICICI had invested over 80 million dollars through its Iven Medicare India, and helped to develop infrastructure facilities in as many as four different healthcare institutions in parts of India.

He said that apart from the investment of 80 million dollars the ICICI Venture also plans to invest another 170 million dollaes in the next couple of years. He also said that in Karnataka the ICICI Venture through its Iven Medicare has provided a financial assistance of 24 million dollars to Mysore based Vikram Hospital which has an ambitious plans of expanding its base in different parts of the state. The Vikram Hospital, which had introduced advanced healthcare facilities and service in Mysore has plans to expand its bed strength from the present 300 to over 2000 in next five years.

The Iven Medicare will contribute significantly to the growth and expnsion of Vikram by offering dedicated support in key areas like medical informatic, quality and accreditation, HR practices, Commercial and Technology, Marketing and brand building, he said.

Dr S B Vikram, Managing Director, Vikram Hospital, who also present on the occasion said that with the Iven Medicare's financial support Vikram Hospital would expand its base beyond Mysore and will have a PAN Karnataka Footprint of higher secondary and tertiary care hospitals at various districts.

Dr Vikram also informed that Vikram Hospital Mysore will open a super speciality heart and cadiac care care focused hospital in Mandya which will be followed by Hassan, Tumkur and Chamarajanagar districts in Karantaka. "There was also a plan to set up super speciality hospital at Wynad in Kerala" he said.

UNI

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