HCL ties up with Johns Hopkins to foray into healthcare sector

Tags: News
Shiv-Nadar promoted HCL Corporation, on Thursday, announced its entry into the healthcare segment with the launch of HCL Healthcare. The company has earmarked around Rs 1,000 crore from the equity towards funding of the business for the next five years.

The venture, which was started by taking an equity position in Bharat Family Clinic, will set up a network of outpatient multi-specialty clinics at a pan-India level. Renamed as HCL Avitas, in affiliation with the Johns Hopkins Medicine International, it is the first subsidiary of HCL Healthcare which will focus mainly on diseases such as diabetes, stomach and gastronomic problems, asthma and chronic obstructive pulmonary disease (COPD) as well as dermatology. The clinic will also have internal medicines and general practitioners, Harish Natarajan, chief executive officer, HCL Avitas, told Financial Chronicle.

Shiv Nadar, founder & chairman, HCL & Shiv Nadar Foundation, said in a statement, “Education, healthcare and technology will be the key enablers of our country’s future progress and growth. Over the last 38 years, HCL has been at the forefront of technology and innovation. I have personally been committed to the cause of education through the Foundation for 20 years. Today we announce our entry into healthcare - an area of paramount national importance.”

Natarajan also said, “We will begin with a network of multi-specialty clinics across the country starting with the National Capital Region (NCR). We will offer the best of patient-centric care in our clinics – addressing their long term care needs. Technology is our strength – our clinics will all be networked giving patients access to their medical history and to the best specialists available in our system.”

The company at present has two outpatient clinics, acquired a year back, in Noida and Gurgaon. The clinics, Natarajan said, are operational from Thursday.

He also said that while the focus at present will be on the Delhi and NCR region, it expects to have a nation-wide presence over the next five years. Over the next five years, the company expects to have over 1500 doctors to be employed across various cities in the country. At present, it has 32 doctors and about 100 clinical staff in its pay-roll.

On funding of these clinics, Natarajan said that around Rs 1,000 crore has been earmarked from HCL Corp equity for a period of five years. “We would scale-up our investment as and when required. Over the next two years at least, all funding will be done through internal accruals.” HCL Healthcare will collaborate with hospitals and other tertiary healthcare facilities at both local and national level and intends to provide patient-centered care for over 20 million people by 2020.

On a possible foray in healthcare education and pharmaceuticals, Natarajan has ruled out any such possibility, saying that the company will not look into these two sectors since they required a high level of specialisation.

soumonty.kanungo@mydigitalfc.com

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