Panacea Biotech forays into healthcare,to construct 220 bed hospital

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New Delhi, Jul 4 (UNI) Vaccine and drug maker Panacea Biotec Ltd today said it has forayed into healthcare delivery by entering into collaboration to set-up 220 bed multi specialty hospital in Gurgaon.

For this purpouse, the company has entered into a collaboration with Dr Umesh Gupta of Umkal Group.

The potential market for a corporate hospital will comprise of the very rich consuming class and a part of the climbers which would be close to 25-30 per cent of the market, Joint MD, Panacea biotech, Rajesh Jain said in a statement.

The coming up Medical Institute will enable a great healthcare environment affordable to people from all walks of life. We would also target medical tourism especially the category of medical traveller from developing countries, he added.

The total cost of the hospital will be funded by a mix of debt and equity.

UNI AK SG HT1448

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