Medanta to expand footprints in New Delhi, signs O&M agreement for 750-bed super speciality hospital
New Delhi: Global Health Limited (NSE: Medanta, BSE: 543654), one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India, announced that the Company has signed an Operations and Management Agreement with Dr Narayan Dutt Shirmali Foundation International Charitable Trust Society (''Society'') to operate and manage a 750 bed super specialty hospital in Pitampura, New Delhi.
The hospital is expected to commence operations in 4 years, subject to necessary statutory and customary approvals.
As per the agreement, the hospital building and associated civil infrastructure will be developed by the Society and Medanta will make the necessary investments in internal fitouts, MEP, furniture and medical equipment. Medanta is expected to incur a project capex of ~Rs. 600 crores in next 3-4 years, to be funded by a combination of internal accruals and debt financing.
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Medanta will have full control over the day to day running of the hospital. The agreement is for an initial term of 30 years, further extendable on mutually agreeable terms.
The hospital will be located on a 7-acre site in Pitampura, New Delhi, with a total built-up area of 7.6 Lakh sq.ft excluding the basement. The site offers good connectivity to the Outer Ring road and is in close proximity to high-density residential areas, which will enable Medanta to serve the region's growing healthcare needs.
The state-of-the-art ~750 bedded super-specialty hospital will cater to over 30 super specialties including cardiac, neurosciences, cancer, orthopaedics, digestive, hepatobiliary sciences, multispecialty robotic surgeries, regenerative medicine, as well as full range of transplants.
Commenting on the development, Dr Naresh Trehan, Chairman & Managing Director, Medanta, said, “We are thrilled to expand our footprint in New Delhi by entering into an O&M agreement to operate and manage a ~750 bed super-speciality hospital in Pitampura. This large scale format hospital aligns with our commitment to providing high-quality quaternary care and will allow us to serve communities in Delhi for decades to come.”
“This strategic expansion reinforces our vision to build a sustainable and high-standard healthcare delivery platform. By securing this O&M agreement, we are strengthening our presence in Delhi/NCR and reaffirming our dedication to elevating patient care in the region through world-class services and facilities.” added Pankaj Sahni, Group CEO and Director.
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