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Investment 2014-09-26

Jaypee Group to invest Rs 600 crore to open 4 hospitals by 2016

The group has a 525-bed tertiary care multi-speciality facility at present in Noida which would be scaled up in future.

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Jaypee Group to invest Rs 600 crore to open 4 hospitals by 2016

New Delhi: Infrastructure conglomerate Jaypee Group plans to open four multi-speciality hospitals and add 1,200 beds at an investment of Rs 600 crore in the next two years as part of its expansion in the healthcare sector, states a PTI report.

"We plan to open four multi-speciality hospitals as part of our expansion plans in North India by end of 2016. We will be investing Rs 600 crore on these hospitals excluding the land cost," Jaypee Healthcare Director Rekha Dixit told PTI.

The group has a 525-bed tertiary care multi-speciality facility at present in Noida which would be scaled up in future, she added.

"All the new hospitals will be multi-speciality. They will be in Sahibabad, Anoopshahr, Bulandshahr and Agra," Dixit said.

The hospital in Agra will have around 500 beds, Anoopshahr will have 200 beds while Sahibabad and Bulandshahr will have 250 beds each, she added.

When asked how the company plans to fund the expansion, Dixit said: "It will be a mix of equity and debt with majority of it coming from equity."

While all the hospitals will be multi-specialities the healthcare provider has identified segments such as cardiology, oncology, solid organ transplant, orthopaedics, trauma, IVF and mother-child, and critical care as areas of focus.

"The company has already invested around Rs 700 crore for the flagship hospital in Noida excluding the land cost. We plan to take the bed strength from 525 at present to 1,200 in next three years," Jaypee Healthcare CEO Vikram Singh said.

"All the hospitals of the company that are being developed are greenfield projects and are part of the Founder Chairman's vision to provide quality and affordable healthcare," Dixit said.

Jaypee Group has presence in engineering & construction, cement, power, real estate, expressways, fertiliser, hospitality, healthcare, sports, information technology and education.

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