UAE-based VPS Healthcare to invest Rs 1,000 crore in India in healthcare

KOCHI: The UAE-based healthcare conglomerate VPS Healthcare is entering India by acquiring majority stake in Lakeshore Hospital in Kerala, a tertiary level super specialty hospital and pioneer in large-scale health tourism.

Announcing this decision Dr Shamsheer Vayalil, managing director, VPS Healthcare, said the acquisition is a part of the ambitious expansion plans VPS has chalked out for the subcontinent in the next 5 years. "We have earmarked Rs 1000 crore for expansion plan in India in the first phase," he said.

Shamsheer has taken over as the chairman and MD of the hospital which has been renamed as VPS lakeshore.

Presently, with 350 beds, more than 30 specialties and center of excellence for multi organ transplant services, VPS Lakeshore Hospital is already one of the largest super specialty hospitals in South India with state-of-the-art facilities and increasing number of successful procedures. "With the acquisition, VPS Lakeshore has become a part of our global healthcare mission. To begin with, part of the new 2 lakh sq ft. block with an investment of Rs 300 crore will become operational shortly," he said.

The new block will house advanced and efficient treatment facilities for cancer, cardiac and gastro-related diseases under one roof. SK Abdulla, who has taken over as the CEO of VPS Lakeshore, said in addition these, new cardiac electro physiology lab with ICD, CRT machines, will be set up in the new block.

"Our aim is to provide quality healthcare with focus on patient centric approach and to promote state of the art facilities for medical tourism," Shamsheer said. With a combined business turnover of around $1 billion, VPS Healthcare has created a portfolio of 16 hospitals and network of over 100 medical centers in addition to ventures in pharmaceutical manufacturing and retail.

Source: The Economic Times