Dubai-based DM Healthcare is planning to set up a 35-acre medical complex in Kochi on the lines of the upcoming Medanta Medicity in Gurgaon, and also plans to take majority stakes in prominent multi-specialty hospitals in smaller “tier-II” cities.
The company says it is pursuing an ambition to be among the top three players in healthcare, across India and the Gulf Cooperation Council countries, within the next three years.
The Rs 500-crore project is aimed at health tourists. “It will have a 500-bed facility, a convention centre, a hotel for patients and delegates, and residential facilities for doctors and paramedic staff,” Dr Azad Moopen, chairman, DM Group, told Hindustan Times.
The company will also spend Rs 300 crore by 2013 on buying majority stakes in several multi-speciality hospitals in tier-II cities.
“Our business strategy for India is to buy majority stakes in 100- to 200-bed multi-specialty hospitals,” Moopen said.
“We have held talks with promoters of 60 to 70 hospitals in Bangalore, Pune and Kerala, besides other towns. We will buy 51 per cent stakes, turn around the hospitals by providing the capital, technology and resources, and increase their bed capacity but let the operations continue to be run by the existing promoters,” he added.