Cooperative hospital sells shares to fund development

Kozhikode: The District Cooperative Hospital, Kozhikode, is all set to implement a ₹50-crore project for the expansion of the hospital using funds collected exclusively through sale of shares.

The ‘Arogya Pariraksha Plus’ project, in which shareholders are entitled to various freebies and treatment at subsidised cost, is now open to a wider range of people, with the share amount being slashed. The project was initiated in 2016.

Under the project, a shareholder gets ₹20,000 discount on inpatient treatment, besides a 50% discount on room rent, charges for operation theatre, USG scan, ICU, ECG, and x-ray. Also, they are entitled to a free mini health check-up every year. The shareholders can consultant doctors in the general OP any time and will get 10% discount for all OP expenses. The services of specialist doctors, except for visiting consultants, can be availed five times a year.

A nominee of a person who holds a share of ₹50,000 is entitled to the facilities. The number of nominees who can avail benefits will be three for those who own ₹1 lakh and ₹2 lakh shares and four nominees for those who own ₹3 lakh shares. The benefits of the shares will come into effect from April 1, 2017 onwards.

Kozhikode District Cooperative Hospital Society Chairman and former Mayor M. Bhaskaran said the hospital had collected ₹5 crore through sale of shares in 2016. The funds were used to construct an advanced CT scan facility, purchase more equipment for the gastroenterology department, and to expand ICU and OP.

“We expect to collect ₹50 crore this year as there could be more people coming forward to purchase shares with a lower value,” he added.

The society has plans to open a department of cardiology with cath lab and MRI scan facility. The project is expected to cost around ₹15 crore. The society has also identified 56 cents at Karuvassery where an educational academy for nursing and other paramedical courses will soon be opened. There are also plans to develop an inpatient facility as scarcity of rooms has become acute of late, Mr. Bhaskaran said.

The hospital is 44 years old with many super-speciality departments. This is one of the few centres in south India that undertake knee replacement surgeries.

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Printable version | Jan 22, 2021 7:06:57 AM | https://www.thehindu.com/news/cities/kozhikode/cooperative-hospital-sells-shares-to-fund-development/article17418181.ece

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