Maxcure Hospitals, with 51 per cent equity investor, Medicover, the Sweden-based healthcare and diagnostic major, has charted a growth plan focussed on Maharashtra, Chhattisgarh, Andhra Pradesh and Telangana.
The expansion, which began in 2017 with the dilution of 51 per cent for about Rs. 320 crore from the holding company, Sahrudaya Healthcare Pvt Ltd, has already seen Maxcure rapidly scale up its presence from 200 beds in 2015 to 2,000 beds at present. It has 11 multi-speciality hospitals, mostly in Telangana and Andhra Pradesh, said G Anil Krishna, Managing Director.
A large part of the growth will be met with funds raised from the investor, internal accruals and, going forward, from debt says Anil, whose vision it is to take the group to the top five in the country’s healthcare sector by 2025. “We are betting big on Maharashtra and Chhattisgarh in the next three years. Navi Mumbai, Aurangabad, Nagpur, and later, Pune, are the prime locations”, he toldBusinessLine.
Maxcure, which began in 2014 in Hyderabad under the Sahrudaya Healthcare Group and soon took over Mediciti hospitals, has moved into Nashik with a 300-bed facility and is close to completing a similar sized one in Navi Mumbai. The strategy would be to take high quality, affordable healthcare to tier-2 and -3 cities, he added.
The turnover for fiscal 2017-18 was Rs. 421 crore and it had done Rs. 400 crore by January-end in the current fiscal. Its overall investments have also risen to Rs. 500 crore. While each hospital will be a multi-speciality facility with the best medical, para medical and diagnostic care, at two places — Madhapur in Hyderabad and Nellore in Andhra Pradesh — exclusive oncology facilities and treatment are also being established, he said.
In addition, Medicover has diagnostic facilities in Bengaluru and Mysuru. It has announced its intention to expand its presence in fertility services too.
After entering India in 2016 with an agreement to manage the operations of Medicover Fertility India, it has acquired the main shareholder, Medicover Healthcare, Delhi. It has since opened facilities in five cities, with the latest being in Hyderabad.
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