Manipal Group consolidates its healthcare services under one roof to form Manipal Health Systems, which is supported with a Rs 800 crore investment for organic and inorganic growth.
Under the umbrella of MHS, the Group has integrated hospital management and operations of all its hospitals including Manipal Academy of Higher Education (MAHE) teaching hospitals at Mangalore, Udupi, Goa, Manipal, Karkala, Kasargod and Tumkur.
Early 2006, Manipal allocated Rs. 150 crore for expansion of its hospital in Bangalore on the Airport Road, which will see an increase in bed strength from 650 to 850. There was also an acquisition of the Bangalore Children's Hospital for Rs 30 crore and this is now the Manipal Super Speciality Hospital. Around Rs 60 crore is allocated for equipment purchase which includes PET-CT Scanner, 64 Slice CT and a 1.5 Tesla twin gradient MRI system apart from diagnostic devices for oncology and gastroenterology.
Plans are under way to set up its second Manipal retail pharmacy-diagnostic-clinic at JP Nagar in the city at a cost of around Rs 2 crore. MHS intends to have around a dozen such models in the city over the next two years, informed R Basil, Director and CEO, Manipal Health Systems.
Beginning 2007, MHS will invest Rs 800 crore which is sourced through private equity and internal accruals. These will be for green field expansion in Mumbai and New Delhi. A land has also been acquired for setting up a 300 bed facility close to the Bangalore International airport which will be ready by 2008 end with the commissioning of 100 beds. The hospital at Goa will also be expanded. In addition, MHS will also set up diagnostic centres cum clinics abroad at Malaysia and London, Dr Ranjan Pai CEO, Manipal Education and Medical Group International stated at a press conclave.
Manipal Group's healthcare activities which registered a turnover of Rs 232 crore last year has maintained a growth rate of 27 per cent annually for the last three years. Ending FY 2006, earnings are Rs 260 crore. In terms of earnings, the hospital is ranked second after the Appollo Group in the country. Its hospital bed strength of 5,000 beds at its 11 hospitals in the country, 1,700 doctors and 5,000 employees makes it one of Asia's largest healthcare companies. The expansions will see MHS double its personnel strength within five years. By 2011, MHS is aiming for a Rs 1,000 crore turnover.