Dubai firm plans $461m Indian health investment

DM Healthcare, a Dubai-based company, on Tuesday announced an investment of over Rs2,150 crore ($461m) to provide 3,100 hospital beds in Kerala through eight different projects.

The projects are in various stages of completion in Ernakulam, Kozhikode, Palakkad and Kannur districts, the company said in a statement.

Most of the projects are expected to be operational in the next five years, it added.

Commenting on its expansion, Dr Azad Moopen, chairman, DM Healthcare, said: "Kerala poses as a highly priority destination for our investment in India in view of the demand for advanced healthcare facilities in Kerala and our already existing and pipelined projects in the state.

"Kochi is very well connected to the world by air, road, rail and sea. A proactive government, a vast healthcare human resource pool, and a beautiful natural environment further stimulate the growth of Kerala's economy.

"We see this as an opportunity to develop the Aster Medcity that will not only support the medical requirements of the state and country, but also provide venue for medical tourism to the country from abroad." Moopen added.

One of the project is Aster Medcity, a hi-tech healthcare destination being developed in over 40 acres of land that integrates nature with healing, in Kochi.

The first phase, which is being developed at a project outlay of Rs500 crore, includes a 550 bed Core Hospital with nine centres of excellence.

The first phase of Aster Medcity is on track for commissioning during the second half of 2013.

Aster Medcity campus will also have a 500 seat medical convention centre, a 4-5 star hotel and serviced apartment complex, staff accommodation for medical and para-medical staff.

A high end residential facility of about 1.5 million square feet is also planned with the integrated township having a population of about 10000 people.

Moopen said he is also trying to address the healthcare requirements in Wayanad and surrounding areas, by setting up a medical college with 700 bed hospital in a district with poor medical care facilities.

In February, the company said it is to hire 11,000 new employees in the next three years under plans to more than double its presence in the Gulf and India.