Lilavati Hospital to tap PE, pension funds for its Rs 4k-cr expansion plan

MUMBAI: Promoters of Mumbai-based Lilavati Hospital are in talks with non-public fairness buyers and pension funds for its proposed Rs 4,000-crore pan-India enlargement plan which entails organising 5 to 6 multispecialty hospitals over the following 5 years. “We can be funding the enlargement via inside accruals, and are additionally in discussions with PE buyers, pension funds and donors,” mentioned Prashant Mehta, promoter, Lilavati Hospital. “We are going to retain the controlling stake,” Mehta added.

He mentioned Lilavati is taking a look at each greenfield and brownfield hospitals as a part of its enlargement technique. The proposed enlargement can be carried out by Lilavati Basis, a definite and separate entity from Lilavati Hospital, Mumbai. “We consider there may be nonetheless an enormous potential for development of healthcare providers in India,” Mehta mentioned.

The enlargement will embody 3,000 hospital beds. Lilavati is organising a greenfield 300-bed multi-specialty hospital in GIFT Metropolis, Gujarat with an funding of Rs 300 crore. The hospital is slated to open by 2025-end. Lilavati can also be contemplating opening hospitals in Dharamshala (Himachal Pradesh), Noida (Uttar Pradesh), Pune (Maharashtra), and Bengaluru (Karnataka) and Guwahati (Assam), Mehta mentioned. He mentioned they’re additionally taking a look at increasing the 319-bed Lilavati Hospital & Analysis Centre in Bandra, Mumbai by including a 150-bed oncology block, which could contain buying adjoining property.

“The enlargement would price wherever between Rs 350 crore and Rs 400 crore,” mentioned Mehta, additionally the everlasting trustee on the board of Lilavati Kirtilal Mehta Medical Belief that runs Lilavati Hospital in Mumbai.

Mehta mentioned Lilavati Hospital in Mumbai will stay a public charitable belief. Mehta’s mother and father Kishor and Charu Mehta had been instrumental in organising super-speciality Lilavati Hospital in Mumbai 25 years in the past. Lilavati can also be planning to start out a pharmacy chain comprising 500 shops throughout India in subsequent 5 years with an funding of ?200 crore. The primary retailer was launched in Ahmedabad in September final yr.

Mehta mentioned pharmacy enlargement can be accomplished by way of company-owned pharmacies and franchisees.