March 07, 2011

Vasan Healthcare to invest Rs 300 cr to open 45 hospitals

Eye care specialist Vasan Healthcare today said it will open 45 hospitals in India by the end of March 2012 at an estimated cost of Rs 300 crore.

"Vasan Healthcare will open 45 single super speciality eye care hospitals pan-India by the end of next financial year. Out of these 25 hospitals will come up in the next four months," Vasan Healthcare Chairman and Managing Director A M Arun told reporters here.

When asked how much the company will invest for setting up the new hospitals, he said: "We will be spending around Rs 300 crore."

The company will open 28 eye care hospitals with four in Delhi, five in Kolkata, four in Mumbai and in Surat, Ahmedabad, Baroda, Rajkot, Nagpur, Pune, Kolhapur, Nashik, Amritsar, Jalandhar, Ludhiana, Chandigarh, Indore, Bhopal and Bhubaneshwar.

At present the company has 80 eye care hospitals across India. The firm will also plans to open hospitals in Colombo and Dubai by April 2011, it added.

On the model for its operations, Arun said: "All our hospitals will be fully owned, fully operated by us as we do not believe in franchises or in joint ventures."

"We are confident of creating success with our pan-India operations and providing world class super speciality eye care services in other parts of the country," he added.

The company also aims to open 15 dental hospitals to take the total number of dental hospitals to 30 by end of 2011. A closely held entity, the company has not made public is financials.

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