Dubai healthcare firm eyes $335m India investment

DM Healthcare is setting up MedCity project in Kochi, specialist eye care centres in Delhi region
Dubai healthcare firm eyes $335m India investment
Azard Moopen, chairman of DM Healthcare.
By Andy Sambidge
Fri 25 Mar 2011 04:00 PM

Dubai-based DM Healthcare plans to invest nearly $335m in the next five years in India as its looks to expand operations, it was reported on Friday.

The company is setting up MedCity in Kochi, a medical college and hospital at Wayanad in Kerala and it also plans to open specialised eye care centres, The Hindu reported.

The company will spend two-thirds of the money over the next three years, including funding for the first two phases of MedCity.

“We plan to invest around Rs 1,500 crore ($335m) in the next five years to set up MedCity at Kochi. Work has already started for the 500-bed hospital. In the first phase, we will invest Rs 500 crore,” Azad Moopen, DM Healthcare chairman told the paper.

The first phase would be completed by 2013, he said, adding that MedCity would host a large hospital, six centres of excellence, a resort hotel, a convention centre, a medical college and associate facilities.

“We have the land and started the construction. Hopefully in the next two years, we will be able to admit the first patient,” Moopen told the paper.

The company will also invest in 4-5 specialist eye care centres in the Delhi region.

It has also acquired 65 per cent stake in a 100-bed hospital at Kolhapur in Maharashtra and is planning to add another 200 beds to it, the report added.

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