Published On:May 30 2024
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"Medicover Group Expands Presence with New Hospital Facility in Bengaluru"

Medicover Group of Hospitals, India, announced plans to open a new facility in Bengaluru's Whitefield area in June, backed by an investment of ₹120 crore. This new hospital will have a capacity of 300 beds, adding to the company's current bed capacity of 5,500. With the opening of this facility and another in Warangal, Medicover aims to reach a total bed capacity of 6,000.

Anil Krishna, Chairman and Managing Director of Medicover Group of Hospitals, India, revealed that the company plans to open 4-5 more hospitals in Bengaluru over the next five years. Currently, Medicover operates 23 hospitals across 16 cities, including metro and tier-II cities in Maharashtra, Andhra Pradesh, Telangana, and Karnataka.

Krishna highlighted the shift in focus from tier-II cities to metro areas, stating, “The biggest problem with setting up hospitals in tier two cities is getting the right medical talent. Retaining trained medical professionals has been challenging, prompting our focus toward metro cities where talent replacement is easier despite the competitive poaching.”

Medicover Group's India operations have an employee strength of over 14,000 and project a revenue of around ₹2,000 crore for this financial year, with 8 to 9 percent expected to come from government schemes.

The history of Medicover in India dates back to 2015 when Krishna established MaxCure Hospitals. In 2017, the European healthcare entity Medicover Group acquired a 49 percent stake in MaxCure, leading to its rebranding as Medicover Hospitals. The parent company, Medicover Group, operates in 12 countries, including Germany, Sweden, and Poland, and is listed on the Swedish stock exchange. It is a diversified healthcare chain involved in hospitals, gyms, pharmacies, and insurance.

This expansion marks a significant milestone for Medicover, reinforcing its commitment to providing quality healthcare services in India's rapidly growing metro cities.

HBL





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