March 12, 2011

Max plans med education institute, may invest up to Rs 1000 cr

Max Healthcare is likely to invest up to Rs 1,000 crore over the next three years to set up a medical education institute at Greater Noida.

"We expect the investment on total infrastructure to be in the range of Rs 700 crore to Rs 1,000 crore. The institute will include a medical college, a nursing college and a college for allied health services," Max Healthcare CEO and Managing Director Pervez Ahmed told PTI.

While the nursing and allied healthcare colleges will become functional this year, it will take nearly three years to start the medical college, he added.

As per the company's plans, the medical college will have 50 seats to start off with, which will eventually go up to 150. The nursing college will have 100 seats and the allied healthcare institution will have 300 seats for various certificate and diploma courses.

The company will fund the project through a combination of debt and equity, Ahmed said.

Apart from the institute at Greater Noida, the company also plans to set up another three nursing colleges over the next three years.

"We have plans to start three nursing colleges at Dehradun, Noida and one in Punjab. For the Dehradun one, we have already identified the location," Ahmed said.

The company will commission four new hospitals this year taking its in-patient bed capacity to 2,000 beds from 800 at present. It expects the total bed strength to go up to 5,000 in the next five years.

"The majority of the addition would be through mergers and acquisitions. There are a few players with whom we are having discussions," Ahmed said, without disclosing details.

Max Healthcare expects its four hospitals at Mohali, Bhatinda, Delhi and Dehradun to become operational this year.

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