Rockland Hospitals, which runs two multi-specialty hospitals in Delhi and one at Haryana, has chalked out plans to develop a medical corridor that will have tie-ups with local clinics and nursing homes across the stretch from Noida in Uttar Pradesh to Manesar in Haryana.
As part of its plan, the healthcare chain is developing its new 500-bed hospital in Noida with an estimated investment of Rs 650 crore, which is expected to be complete by 2015.
“We already have land for the Noida hospital. The funds required for investment will be sourced through a mix of debt and equity,” said Rajesh Srivastava, chairman, Rockland Hospitals. He added that the company has already invested around Rs 900 crore towards the development of existing hospitals under its ambit. “The hospitals under our brand will function in a tie-up with local nursing homes and private doctors along the medical corridor on Noida-Manesar stretch.”
The medical corridor plan of the company is a unique model wherein instead of competing with private clinics and nursing homes for patients, the healthcare chain engages in a tie-up. This deal works in a way that doctors from clinics, nursing homes and small hospitals are able to link-up with super specialists at Rockland Hospitals and get access to radiology and laboratory reports and expert advise — for a fee. Rockland Hospitals admits those patients who require tertiary health care under supervision of specialists.
The medical corridor would also have a Medical College attached to Rockland Manesar and a para-Medical College attached to the 500 beds-multi- speciality hospital at Noida. A total investment of R450 crore has been earmarked for the initiative that will be invested over the next five years.
At present, India has around 860 beds per million population according to the World Health Organisation (WHO) estimates. This compares with the world average of 3,960 beds per million population. It is estimated that 450,000 additional hospital beds will be required by 2014. The government is expected to contribute only 15-20% of the total, providing an enormous opportunity for private players to fill the gap.