Paras Group of Hospitals plans Major expansion Across North India with new hospitals in UP
New Delhi, 13th March 2018: Leading hospital chain Paras Healthcare is set to come up with new hospitals in Jharkhand and Uttar Pradesh as part of its plans to expand presence and double its bed capacity in North India over the next 3-4 years.
The newmulti specialty hospitals are being especially planned in towns and citieswhich are currently off the map of quality tertiary care. In fact, the Groupplans to double its bed capacity to about 1400 in the next 3-4 years from theexisting 730 beds to meet the un-served states like Uttar Pradesh and Jharkhandamong others.
The companycurently has 730 beds spread over five hospitals in Delhi, Panchkula, Gurugram,Patna, Darbhanga.
"In thenext three or four years, we are looking at doubling our bed capacity to about1400. The new hospitals will come up in areas where there is unmet demand andwhere patients and their relatives are forced to travel long distances to availquality medical services. Our goal from the very beginning has been to providequality services at affordable prices to the patients and we are committed tothat goal even now. We will open multi-specialty tertiary care hospitals in theexpansions that we have lined up. One such hospital will be made operational inPanchkula in July this year," said Dr Dharminder Nagar, ManagingDirector and CEO Paras Healthcare.
Thehealthcare provider has already announced its plans to set up a 300-bedtertiary care hospital in Ranchi. There will be another one coming up in UttarPradesh, said Dr Nagar. The Ranchi hospital is being set up in tie up withPublic Sector Undertaking Heavy Engineering Corporation (HEC). The hospital isbeing set up under public-private partnership by Paras and HEC where in theland for the hospital is being provided by the engineering major while Paraswill bring its healthcare expertise and manage day to day operations.
Thecompany will utilize the proceeds of the funding that it raised last year forsetting up the upcoming hospitals. It had raised 42 million US Dollars (aroundRs 275 crore) in July 2017 from PE firm Creador for its growth and expansionplans.
"Wewill expand in North India in the near future. We are not looking at any partof the country at the moment. We see humongous unmet needs for qualityhealthcare in this part of the country. In our expansions, we are looking atasset light model. However, we may look at other models on case to case basis”said Dr Nagar.