IFC to invest $14 mln in Rockland Hospital

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New Delhi, Aug 4 (UNI) Rockland Hospital today said it will receive 14 million dollar funding from International Finance Corporation (IFC), a member of the World Bank Group.

The Hospital, incorporated in 2004, operates a 90-bed, multi-specialty hospital in the city. It will utilise the funds for expansion purposes and build the first phase of its new 250-bed hospital at Manesar in Haryana.

IFC will provide 10 million dollars in common shares and rest in the form of convertible preferred shares.

''We also plan to establish diagnostic capabilities in districts around Manesar and reach out to low-income areas,'' said Rockland Hospital Chairman Rajesh Srivastava said in a statement.

The funding will also be used to launch a television channel focussing on health-related services.

UNI SR SG VP1343

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