Ambuja Realty signs agreement with Isreali healthcare giant

Kolkata, Dec 11 (UNI) Ambuja Realty Group today entered into a strategic tie-up with Elbit Medical Imaging Limited(EMI) of Israel to develop a chain of multi-speciality tertiary hospitals to meet the growing need for specialised medical care in India.

Under the joint venture, a chain of hospitals would be set up at selected locations in the country with the first one coming up in Kolkata as the Neotia-Elbit Healthcare Centre.

As part of the proposed 1000-bed multi-speciality tertiary hospital, a Biotech Research Centre along with a number of support services like apartments for patients' families, medical mall, alternative medicine centre and nursing training institute would come up within the next five to seven years with a capital investment of Rs 1,000 crore, majority of which would be generated through internal resources, company sources here said.

The formal agreement to this effect was signed here today by Ambuja Realty Group Managing Director Harshavardhan Neotia and EMI Chairman Moti Zisser and its Vice-Chairman Abraham Goren in presence of chief minister Buddhadeb Bhattacharjee and Israeli Ambassador to India David Danieli.

Later speaking to newsmen, Mr Neotiaand Zisser said Elbit Medical Imaging Limited(EMI) was a company whose shares are traded on the NASDAQ Global Market in New York as well as on the Tel Aviv Stock Exchange with market capitalisation exceeding 800 million dollars.

As a Tel Aviv-based research and medical devices production company, having a highly innovative technology for the non-invasive ablation of tumors using high-focused ultra-sound waves in conjunction with MRI facilities EMI, also held a majority stake in Gamida Cell Limited, another leading Israeli biotech research company engaged in joint development of hematological treatment application with Gamida Cell, Mr Zisser informed to a query.

On the contrary the Ambuja Realty Group has a diverse bouquet of business interests including construction of residential and commercial complexes.The Group is also one of India's largest cement companies under the Chairmanship of Mr Neotia.

Moreover, Bhagirathi Neotia Woman and Child Care Centre (BNWCCC) is the Group's first healthcare venture where it caters to specialities like high risk pregnancies, advanced laparoscopic surgeries, paediatric surgeries and treatment of very low birth-weight babies.

BNWCCC had also recently set up an infertility clinic called Genomee in collaboration with Herzliya Medical Centre of Israel, Mr Neotia informed.

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