Manipal Group forays into healthcare retail

Bangalore, May 29: Manipal Group today announced its foray into healthcare retail by opening integrated outlets offering a mix of services and products in preventive, wellness and beauty under one roof with the brand name "Manipal Cure and Care".

The healthcare major would open 50 exclusively owned outlets during the next one year with an investment of Rs 40 crore. It would further invest between Rs 100 to 150 crore in the next two years to spread its footprint across the country.

Manipal Groups' strategic move in this grey market comes in the wake of successful launch of similar outlets by multinationals like Target and Wall Mart, which would be making their way to India as well, shortly. Reliance also plans to launch such stores across India soon.

"We will first open two stores, one each in Ahmedabad and Bangalore in July and gradually spread the network. Once we have completed 50 stores of our own, we will start franchise outlets besides expanding the chain of stores ourselves," Manipal Education and Medical Group CEO Ranjan Pai said.

Speaking to newspersons here, he said these stores, based out of malls or high streets, would offer a mix of service and products in preventive, wellness and beauty under one roof.

"We had signed an MoU with retail chain Big Bazzar to set up similar outlets in their chain of super bazaars. However, we have altered our plans now and first, we will foray on our own to set up exclusive shops in malls and high streets in metros and tier II cities," Mr Pai said.

Manipal Cure and Care, formed with a seed capital of Rs 50 crore, would have its own branded drugs, which would cost up to 50 per cent cheaper and would have a set of specialists including doctors in each stores catering different needs of the people.

"Retailing is the next big industry that is taking off in India. We feel that there is a huge space in the wellness, preventive and beauty and cosmetic care. We plan to integrate our skills in healthcare to ride the wave of retail boom," he said.

Company COO Somnath Das said that Manipal Cure and Care would offer a mix of services and healthcare by focusing on prevention and wellness and not "illness". Apart from allopathy, the group would later offer alternative medicine like Yoga and Ayurveda in these outlets, he said.

UNI