Enters into partnership for healthcare services with around 300 capacity bedded hospital with over 2 decades of operational expertise
Bengaluru, 31st March 2017- Narayana Hrudayalaya Surgical Hospital Private Limited, a wholly owned subsidiary of Narayana Hrudayalaya Limited, has entered into definitive agreements to partner with Dharamshila Cancer Foundation & Research Centre for the provision of healthcare services at ‘Dharamshila Hospital & Research Centre’ in Delhi. The facility, presently an oncology focused unit, would be upgraded to a state-of the-art superspeciality tertiary care unit.
Located in East Delhi, the hospital has been operational since 1994 and has achieved operating revenues of INR 595 mn for 9 months period ended December 2016. With a robust platform to make significant inroads in an attractive healthcare market like NCR, NH shall be committed to deliver high quality affordable healthcare services encompassing its core values of Innovation & Efficiency, Compassionate care, Accountability, Respect for all and Excellence as a culture.
Following NH’s asset-right engagement framework, this facility considerably reduces NH’s time-to- market with limited capital outlay. It bolsters NH’s newly established Northern cluster which includes Shri Mata Vaishno Devi Narayana Super Speciality Hospital in Kakriyal, Jammu which has received an overwhelming response within 1st year of operations.
Commenting on the announcement, Dr. Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said “This marks our maiden foray in NCR and highlights our emphasis on asset-right model of growth. This is in line with our objective of creating a strong cluster around NCR like our existing ones in Karnataka and Eastern region. This opportunity allows us to capitalize on a significant head-start we get in terms of a hospital with over 20 years track record of profitable operations in a geography of our interest. We shall continue to scout for such meaningful opportunities in Northern India which could help cement our presence across the region.”
About Narayana Hrudayalaya Limited
Founded in 2000 by Dr. Devi Prasad Shetty and headquartered in Bengaluru, Narayana Hrudayalaya Limited is one of the leading healthcare service providers in India operating a chain of multispecialty, tertiary and primary healthcare facilities. The Company has a network of 23 hospitals and 7 heart centres across India and single hospital overseas at Cayman Islands with over 5,600 operational beds across all its centres with potential to reach a capacity of over 6,900 beds.