Alchemist Ltd announced that it has decided to acquire a majority stake in a super specialty Kaiser Hospital Ltd. The facility has been created as per the standards laid down by the Joint Commission International (JCI), USA. JCI is the US accrediting authority for international hospitals which conform to US practice code and guidelines for hospital establishments.
At present the hospital meets the requirements of patients from Punjab, Haryana, Chandigarh, Himachal Pradesh and Jammu & Kashmir. With JCI accreditation, an influx of foreign patients is expected which will make significant contribution to the revenue of the hospital. The facility is valued at Rs 200 crore by the experts in the hospital industry.
The company is already in the pharmaceutical business and having a hospital will be step towards forward integration. This will give a definitive boost to the operational activities of the company.
The board had in its meeting held in the month of August, 2006, approved the proposal for amalgamation of Kaiser Hospitals Ltd with the company. It is now proposed to acquire the same by way of acquiring majority stake in the hospital.