Accentia earmarks Rs 380-mn for two SEZs

Thiruvananthapuram: Thiruvananthapuram-based healthcare solutions provider Accentia Technologies has lined up Rs 38 crore for two special economic zones in Bhubaneswar and Vishakhapatnam.

'The company is planning to construct its facilities on one-acre land each in Vishakhapatnam and Bhubaneswar. We will have our new facilities ready most probably by March 2010-11. The total space in the two locations would cover an area of 1,30,000 sq ft.'

The company is also mulling over acquisition of a few more functional companies in the US and Canada. “We had zeroed in on five companies in the Americas and one in the US has already been bought out. Three more US players, one Canadian company and one UK firm are on Accentia radar. We are waiting for the slowdown phase to pass,” Pradeep Viswambharan, CEO, Accentia Technologies, said.

Also, the company bagged a $22 million order to service a chain of hospitals in the US.

The order is to be executed during the 2009-10 fiscal. The order will enable the company to add 1,800 seats (5400 seats in three shifts) before December 2009 at its facilities in Bangalore, Thiruvananthapuram, Hyderabad, Kochi and Bhubaneswar. The company would hire 5,000 professionals during fiscal 2009-10.