Multi-specialty hospital chain CARE Hospitals Group, to set up a new 250-bed hospital at a cost of Rs. 200 crore in Hydrebad, India.
The new hospital named CARE Hitech City will be functional from December 2015 and will focus on oncology and organ transplants in addition to cardiology, neuroscience and renal departments.
The new hospital was funded by an equity investment from CARE's key shareholder, US-based private equity firm Advent International Corp.
Soma Raju, CARE Founder and Chairman, said, "The establishment of a new facility in Hyderabad will further enhance our clinical offerings and help to deepen our services in several specialties. We are now in a position to provide a broad range of high-end tertiary care services across a larger platform."
The new acquisition is aimed at providing beds in a key location that has high demand of quality medical care said Dilip Jose, CEO of CARE.