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Healthcare Industry 31 Jan 2015

Vatika Group forays in healthcare sector; to invest Rs 200 cr for expansion

Vatika Medicare will offer a one-stop shop for all radiology, pathology, cardiac, dental and neuro lab needs, the company said.

In a bid to tap India's growing healthcare industry, diversified group Vatika announced its plans to foray into the healthcare sector with initial investment of Rs 200 crore. As part of its expansion in healthcare, the group also aims to open about 15 diagnostics laboratories over the next two years.

Recently, the group has acquired diagnostic labs Health Square from Spry Hospitality, including two centres, for Rs 30 crore and has rebranded it as Vatika Medicare.

Vatika Medicare will offer a one-stop shop for all radiology, pathology, cardiac, dental and neuro lab needs, the company said.

Sharing his views on the same, Vineet Taing, President, Vatika Group, said, "We are ready to roll out our healthcare expansion and the plan is to open about 15 centres under Vatika Medicare, mostly in the metro cities. This will entail an investment of about Rs 200 crore."

"We will look to expand in other metros, including Bangalore and Mumbai," he added further.

Apart from real estate and education among others, the Vatika group has also presence in hospitality and owns properties of Starwood's Westin hotels in Gurgaon and Sohna with Jaipur and Pondicherry properties under active planning.

"Healthcare is an upcoming industry, poised to benefit from the on-going trend of economic development over the long term. Vatika Medicare marks our entry into the healthcare sector," Vatika Hotels Managing Director Gaurav Bhalla said in a statement.

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