Global Hospitals to develop health city in Chennai

Hyderabad, Apr 3 (UNI) With Madras High Court yesterday clearing the decks for acquisition of the hospital run by the Kanchi Kamakoti Peetam Charitable Trust in Chennai for Rs 257 crore, the city-based Global Hospitals today announced its plan to develop a Rs 1,000 crore health city in the metropolis.

''The Health City would have a 1,000-bed hospital and specialised institutes to perform Liver, Kidney and Multi-Organ Transplants, heart and lung care, neuro-sciences, trauma and orthopaedic and cancer treatment,'' Global Hospitals Managing Director K Ravindranath told newspersons here.

The first phase of this mega health project would become functional later this year, he added.

The funding would be done by issuing preferential shares to two international funding agencies based in the US and UK and the group plans to go public after three years for its expansion plans, Mr Ravindranath said.

The group's ultra-modern hospital in Mumbai and Kolkata would start functioning from August 2008 and March 2009 respectively.

The Health City in Chennai would also comprise a stem cell research centre, a hotel, service apartments and an elderly care centre, he added.

Global Hospitals offer of Rs 257 crore included running the existing hospital situated on 18 acre, taking over existing employees and providing 50 free beds.

UNI