NRI buys 20 per cent stake in Global hospitals

Hyderabad, Feb 12: Global Hospitals Chairman K Ravindranath today said NRI doctor Harinath Policharla has bought 29 per cent shares of the hospitals' chain.

Speaking to newspersons here, Dr Ravindranth said the NRI, settled in the US, was also elected as Vice-President of Global Hospitals and would oversee its functions to improve health care facilities in future.

Stating that the hospitals would utilise the funds of the NRI to construct super-speciality hospitals at Mumbai and Kolkata, he said a 250-bed hospital would be established in Mumbai with an investment of Rs 100 crore. Kolkata hospital would be set up at the cost of Rs 175 crore with the capacity of 400 beds.

Dr Ravindranath said the chain was also planning to invest Rs 500 crore as part of its expansion plans in next three years at Hyderabad, Delhi and Chennai super-speciality branches.

UNI