Realty, business groups foray into healthcare with new hosps
The second Covid wave put enormous pressure on the healthcare sector prompting several realty groups and business houses to foray into it for the benefit of society at large. The new players were also attracted by the business potential of the sector.
Business aside, these realty groups and organisations are primarily launching multi-specialty hospitals so that there is no crisis of beds in future. Lok Jagruti Kendra (LJK), a charitable trust and a registered society that runs LJ Group of Institutes, is coming up with a 250-bed multispecialty hospital before the end of next year in the eastern part of Ahmedabad.
VP of LJ Group Manish Shah said, "We all have seen so many people losing their near and dear ones in the second wave. The lower middle and the middle class were particularly affected as private Covid treatment impacted them a lot financially. So, we decided to come with a multispecialty hospital in Kamod village near SP Ring Road. Being a charitable trust hospital, it will be called LJ Arogya Kendra."
Nirman Group, an Ahmedabad-based real estate company, is coming up with a multispecialty hospital in Gota. Chairman of Nirman Group, Prashant Shah told Mirror, "We all went through a tough time and many of us struggled to get one oxygen bed for a friend or relative. In spite of having so many private hospitals and good connections, most were helpless in obtaining even a single bed."
He added, "We are coming up with a hospital so that, god forbid, if someone is in need of a healthcare facility they don't have to struggle. We intend to serve people and have a group of doctors to help us in this endeavour of ours."
Khyati Group has also entered into the healthcare business and is coming up with four private hospitals in Ahmedabad with an investment of Rs 550 crore. They have opened Khyati Multispecialty Hospital beside SG Highway which has 100 beds of which 50 per cent are ICU beds. The group will develop four hospitals in the city in the next three years in South Bopal, Navrangpura, Sabarmati and Vatva. This will create employment for around 450 healthcare workers including doctors. Likewise, Aashka Hospitals Ltd is coming up with an IPO soon and has also got multiple offers of private equity placement after the second Covid wave. CMD of Aashka Hospitals, Bipin Shah told Mirror, "So far we have got around 10 offers from different real estate groups for opening hospitals. We have a target to come up with 1,000 beds in the next two years, across the state."
"We also plan to tie-up with more than 35 hospitals with bed capacity of 20 to 50 for the same," he added.
Dr Mahendra Narwaria, a bariatric and robotic surgeon, told Mirror, " He added, "The driving force to foray into healthcare is the urge to serve people in the times of emergency."