Spice Global to have another go at the healthcare segment

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B K Modi to invest Rs 1,400 cr in super specialty hosipital in Delhi

B K Modi-led Spice Global is giving healthcare space a shot for the second time. With not much success for its GM Modi Hospital set up in 1985, the group is re-establishing itself in the healthcare segment by pumping in Rs 400 crore. The group plans to scale up its investment in the segment by another Rs 1,000 crore in three years to cater to growing demand for specialty hospitals in the country.

As part of the first phase, the company has pumped in Rs 400 crore to launch the multi super specialty hosipital at Saket City in Delhi while the second phase, which will have 230 beds in the facility, shall be completed by June 2013.

“The hospital will have 1,000 bed capacity by the end of its third and final phase, which is expected by mid-2016 with healthcare being our key focus this year. We are confident of redefining the concept of healthcare in India through technological innovation and sensitive patient care,” B K Modi, chairman of Spice Global said.

The company said it has also launched a mobile healthcare division in Singapore to cater to needs of patients. “The model, once it becomes successful, could be introduced in other markets, including India, in the near future,” Modi added. Singapore-based Spice Global is a diversified conglomerate with interests in mobility, finance and entertainment.

The healthcare sector, currently estimated at around Rs 3.75 lakh crore, is likely to double in volume over the next five years. According to the World Health Organisation, India’s healthcare system would require a large percentage of GDP spending if it aspires to become an economic superpower. The country invests only one per cent of GDP in primary healthcare centres and has an average of 0.6 doctors per 1,000 people against the global average of 1.23. Nearly 75 per cent of healthcare investments in recent years have come from private sector.

yogimassharma@mydigitalfc.com

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