Ramesh Hospitals, 25-year-old cardiac care hospital, here has signed an agreement with Piramal Group’s India Venture Trust to expand its services to coastal districts of the State and fund its healthcare projects. Making this announcement jointly Dr. Ramesh Cardiac and Multispeciality Hospitals Pvt. Ltd. managing director P. Ramesh Babu and India Venture Trust senior vice-president Yogita Jadav said this was the first such investment in the State in healthcare sector.

Under this pact in the first phase the India Venture Trust will pick up stake in the Rs.60-crore upcoming 350-bed multi-speciality hospital in Guntur and development of tertiary care centres in seven districts. Ramesh Hospitals currently has 240 beds capacity in two hospitals and in the next three years it proposes to reach 1,000-bed capacity through acquisition of small hospitals/clinics in the Tier-II and Tier-III cities.

The hospital, which has a large strength of cardiovascular treatment equipment and experts in Vijayawada, has connected its main centre through Telemedicine Centres in five places and proposes to take it to 25 in two years. “Our final goal is to create a network of hospitals and set up a medical college of international standards,” Dr. Ramesh Babu said.

Hospital Chief Financial Officer P. Ravi Kiran said the final goal was setting up NABH Standard Hospitals in the region and serving 6 to 7 lakh people in the coastal districts. The India Venture Trust Fund-1 representative said the fund size was Rs.400 crore focussed on healthcare and life sciences and would very soon launch another fund of Rs.500 crore with focus on education sector also. The investment advice from hospital side is being managed by Brahmayya and Co. Chartered Accountants from Chennai.

More In: Vijayawada