Lilavati Hospital to tap PE, pension funds for its Rs 4k-cr expansion plan
Lilavati Hospital are in talks with private equity investors and pension funds for its proposed Rs 4,000-crore pan-India expansion plan which entails setting up five to six multispecialty hospitals over the next five years. «We will be funding the expansion through internal accruals, and are also in discussions with PE investors, pension funds and donors,» said Prashant Mehta, promoter, Lilavati Hospital. «We will retain the controlling stake,» Mehta added.
He said Lilavati is looking at both greenfield and brownfield hospitals as part of its expansion strategy. The proposed expansion will be carried out by Lilavati Foundation, a distinct and separate entity from Lilavati Hospital, Mumbai. «We believe there is still a huge potential for growth of healthcare services in India,» Mehta said.
The expansion will encompass 3,000 hospital beds. Lilavati is setting up a greenfield 300-bed multi-specialty hospital in GIFT City, Gujarat with an investment of Rs 300 crore. The hospital is slated to open by 2025-end. Lilavati is also considering opening hospitals in Dharamshala (Himachal Pradesh), Noida (Uttar Pradesh), Pune (Maharashtra), and Bengaluru (Karnataka) and Guwahati (Assam), Mehta said. He said they are also looking at expanding the 319-bed Lilavati Hospital & Research Centre in Bandra, Mumbai by adding a 150-bed oncology block, which might involve acquiring adjoining property.
«The expansion would cost anywhere between Rs 350 crore and Rs 400 crore,» said Mehta, also the permanent trustee on the board of
