The Pune based Sahyadri Hospitals Limited (SHL) is setting up two new hospitals at Navi Mumbai with a total investment of Rs 50 crore. The construction work is in progress and they will be on stream by the end of 2008.

SHL specialises in neurosciences, haematology, cardiac sciences and cytogenetics amongst others. The hospital group has pioneered several path breaking initiatives like CT angiogram based preventive healthcare package, healthcare loyalty card. The happy hour is a programme that makes CT scan and MRI, eminently affordable to the less privileged and needy. SHL will build this network of hospitals (tertiary and higher secondary) in Maharashtra, through a mix of Greenfield and Brownfield initiatives.

Speaking to Pharmabiz, chairman and managing director, Dr Charudutt Apte, Sahyadri Hospitals Ltd said, "We are setting up two new hospitals at Navi Mumbai which will be super speciality and secondary care hospital. We are expecting super speciality will be ready by June 2008 and secondary care hospital by December 2008. The company has plans to invest Rs 150-160 crore in the next three years.

Our expansion plan will be in a phase wise manner. In the first phase we will be commissioning 20 hospitals across Maharashtra in 18 months time whereas, in the second phase more than 20 hospitals will be set up in Maharashtra as in similar time duration".

"Currently, the total bed capacity is around 250 and we intend adding 3000 plus beds over the next three years. We will see opportunities and according to them we will work on that. The company is also ready to work with Private Public Partnership (PPP) with Government", he further added.

Recently, Sahyadri Hospitals has received US $36 million from ICICI Ventures through its holding company IVEN Medicare. The company will utilize this money in a three different ways namely, Greenfield Projects; Brownfield Projects, and Existing Commercial. Under the Greenfield Projects, it will set up its 100 per cent owned new hospitals and joint venture activity with doctor groups/leading localities etc. Whereas in Brownfield Projects and Existing Commercial projects, it will go for 100 per cent buy out of existing hospitals or joint ventures. The company will take building on lease and convert into hospital or acquire any hospitals. It will set up additional facility/specialty either solely or jointly with existing owners.

Talking about further initiatives, Apte, said, "We are seriously evaluating a Greenfield opportunity outside India. We are looking at the states forming part of Western India and some selected International patient pool, sans the glamour and hype of medical tourism. Clinical research activities are an emerging and potential market for us".