Hotline: 1800 102 2007
X
Search Business Opportunities
Mar, 20 2017

​ITC gets shareholders' nod to venture 'Healthcare' sector

ITC had sought approval from its shareholders to alter Memorandum of Association of the company to include 'Healthcare' through a special resolution on January 27.

Having diversified into FMCG and other businesses, tobacco giant ITC has got shareholders' nod to enter the healthcare sector and plans to set up multi- specialty hospitals across the country.

The company had sought approval from its shareholders to alter Memorandum of Association of the company to include 'Healthcare' through a special resolution on January 27.

The resolution has been passed by the members "by requisite majority", ITC said in a regulatory filing. In January, ITC said that its board of directors had recommended seeking shareholders' approval for the alteration of the objects of the clause of its MoA.

The Kolkata-based firm, for which tobacco still accounts for big chunk of the revenue, plans to set up multi-specialty hospitals and leverage its experience in hospitality for tapping into the expanding medical tourism segment in India.

The board of directors of the company had "recommended exploring and entering the area of health in India by way of setting up state of the art world class multi specialty hospitals", ITC had said in a notice to the shareholders.

The move is in the context of the company's vision to "sub-serve national priorities which has driven the company's operations, diversification initiatives and CSR policies and practices", it had added.

"Such initiative would leverage the company's repertoire of knowledge and experience in the hospitality and tourism sector and can be used for medical tourism for the country using the multi-specialty world class facilities," it had said. ITC will compete with the likes of Chennai-based Apollo Hospitals, Fortis and Max Healthcare which are among the major private players in the sector. The company is looking at the whole gamut of healthcare. These include business of multi speciality hospitals, medical and health care centres, mobile health centres, nursing homes, diagnostic centres, dispensaries, pharmacies, clinics, laboratories, polyclinics, drug and medical accessories stores.

Comment
Related opportunities
  • About Us: Cyber Security Academy (CSA) is a brand of SkillCube...
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 1300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Others Food Service
    About Us: Dhaba Cafe is a complete food hub with two..
    Locations looking for expansion Madhya pradesh
    Establishment year 2008
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Indore Madhya pradesh
  • E-Commerce & Related
    About Us: Incepted in 1955 by Shri. Madhavrao Ashtekar, who hailed..
    Locations looking for expansion Delhi
    Establishment year 1955
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Food Service
    About :  Eggsplore is a rising chain of themed fast food..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities