Wadia Group expands its healthcare portfolio; forges another JV

Mumbai, Oct 13 (UNI) The Wadia group today announced plans to offer a comprehensive range of healthcare services by signing a Memorandum of Understanding (MoU) with a leading Singapore-based healthcare provider, Pacific Healthcare Holdings.

Under the terms of the MOU, both Pacific Healthcare and Wadia will have equal stakes in the joint venture, said a Wadia press release here.

The proposed business plan will be divided into two phases - a Cosmetic Medical Specialist Centre in phase one, and a full scale Medical Spa in phase two.

The concept of a Medical Spa (MedSpa) is to provide a holistic system of healthcare, combining medical services and total wellness program in a luxurious and stress-free environment, modeled after Pacific Healthcare's Singapore operations. The model will later be replicated in other cities.

The cosmetic medical specialist centre in Mumbai will be located in Worli.

It will focus on Pacific Healthcare's core competencies which includes Plastic Surgery, Dermatology, Cosmetic and Implant Dentistry.

Preliminary discussions for the medical spa, estimated to cost USD 4 million, have also commenced.

''Healthcare is a sunrise industry with increasing demand for excellence. Our partner, Pacific Healthcare is an established premier healthcare group which has created a unique model of combining both medical and wellness services under one roof, Director of the Wadia Group, Mr Jeh Wadia said.

''We are confident that this collaboration will positively impact the cosmetic medical landscape in Mumbai and then other cities by offering a combination of medical services with total wellness programs for men and women using world class specialists and facilities,'' CEO of Pacific Healthcare Dr William Chongsaid added.

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