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Saturday, April 05, 2008

Manipal Cure to invest Rs 300 cr for expansion

Manipal Cure and Care, which specialises in setting up health and wellness centres, today said it would be investing Rs 300 crore in the next five years to expand its business.

"This industry is growing at two-digit. We plan to invest Rs 300 crore to Rs 400 crore in the next five years," Manipal Education and Medical Group CEO Ranjan Pai told reporters.

Manipal Education and Medical Group runs the Manipal Cure and Care health and wellness centre. Its centres specialise in executive health check-up, immunisation for babies, dental work, weight-management and nutraceuticals.

The company has entered this business last year by setting up a centre in a mall in Ahmedabad. It opened its second store in Bangalore.

Now, Manipal Cure and Care plans to set up four centres this year and 50 centres in the next three years.

"We would be opening two centres in Mumbai, one each in Bangalore and Pune this year. We are looking at the franchise model too," Pai said.

The group also runs hospital. It would be starting a new hospital in Delhi at the end of this year. "We would be investing Rs 250 crore in the Delhi hospital, which would be a tertiary one," Pai said.

Initially, it would be a 350-bed hospital, which could be scalable upto 1,000 beds.

The group runs about 16 hospitals and 5,600 beds in the country, with greater presence in South India. It owns and operates 1,600 beds and manages 4,000 beds.

"We are looking to open hospitals in Mumbai and Kolkata," Pai said.

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