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Jan, 17 2019

Paras Healthcare to invest Rs 500 cr to add 830 beds in 2019

Paras healthcare is planning to invest Rs 500 crore to add 830 beds in 2019.

Paras healthcare, a hospital chain, is planning to invest Rs 500 crore in order to extend the number of beds to 830 in 2019. The company has its branches in Gurugram, Darbhanga, Panchkula and Patna.

Dharminder Nagar, Managing Director of Paras Healthcare, said, "We are investing Rs 500 crore to add 830 beds in 2019 across our three hospitals. This includes 232 beds in our Panchkula hospital which we have just opened."

The company is looking to launch another hospital in Ranchi with 350 beds during the year. This hospital will be established in collaboration with Heavy Engineering Corporation. Paras healthcare will also add 250 beds in another hospital.

"This is mainly through equity which we have raised. The company had raised USD 42 million in July 2017 from private equity firm Creador. The rest would be through debt," Nagar added.

Focusing to serve the middle class, Paras healthcare is following an asset light model. The main aim of the company is to manage the quality and be cost effective.

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