Manipal Health Systems (MHS) has acquired the 125-bed Bangalore Children's Hospital and Research Centre at an undisclosed price. The acquisition comes in the wake of the Manipal Group's efforts to achieve market leadership positions through both organic and inorganic growth in the healthcare sector.
For 2006-07, MHS has a plan to invest around Rs. 200 crore for setting up new centres and acquisitions. Among the new projects in Bangalore include a 300-bed facility slated to come up in 2009 close to the venue of the city's new international airport at Devanahalli in Yelahanka, which is expected to be a one-of-a-kind quardinary care centre focussing on multiple organ transplant among other specialities. It will also gear up to increase its reach in South India particularly Mysore, Chennai, Hyderabad and Vijayawada. Efforts are also on to upgrade the Manipal-owned cancer hospital in Goa where an investment of Rs 20 crore is slated. The hospital is also in talks with medical centres at New Delhi and Mumbai for acquisitions, which are opportunities for inorganic growth.
"We need to deploy a combination of concepts in healthcare management like mergers, acquisitions and new investments, which is an approach to survive in a high-risk business besides chalk strategies to keep ahead. In terms of bed strength, MHS is the highest in the country with a capacity of 5,000," R Basil CEO, Manipal Hospital told Pharmabiz.
At BCH&RC, MHS will now pump in Rs 25 to Rs 30 crore for a massive expansion at the acquired facility and convert the paediatric speciality to multi speciality for adults and children. It will offer fifteen specialities: diabetes, trauma, accident care, neurology, dentistry, ophthalmology, gynaecology and paediatrics to name a few. The facility will only offer basic cardiac care in an emergency and all surgeries and related diagnosis will be offered at Manipal Hospital. The investment will refurbish the facility completely and will be equipped with advanced medical equipment and devices. This will be the first phase of our contribution to the hospital with no increase in beds, informed Basil.
In the second phase, the MHS primarily will gear up to augment the bed strength to around 200 as it expects increased patient inflow going by the lack of a speciality hospital in Rajarajeshwari Nagar on the Mysore Road.
The new hospital will also see MHS hiring 200 personnel, recruitment for which has already commenced.
The ten-year-old Bangalore Children's Hospital and Research Centre headed by the renowned paediatrician Dr. Nandini Mundkur, was managed by the Sackhumvit Trust and catered to children coming from any strata of society till the age of 16. It was known for its super specialities like developmental paediatrics, neonatology, paediatric orthopaedics, intensive care, neurology, endocrinology, pulmonology and surgery. Its staff strength was around 180. There were around 36,000 admissions annually.