HLL Lifecare to Set up 100 Hospitals in India
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09 March 2009
Ties up with US based Acumen Fund to set up a 100 hospitals across India by 2013
HLL Lifecare has announced that it has tied up with US based Acumen Fund to set up a chain of 100 hospitals across India by 2013.
The joint venture is aimed at providing high quality service at affordable rates in the country, reports IANS.
Giving details of the project, HLL Lifecare Chairman and Managing Director M Ayyappan said the joint venture company is a 50:50 equity partnership between his firm and Acumen Fund, a non–profit philanthropy venture fund.
Currently there are six Life Spring Hospitals that are working in Andhra Pradesh under the joint venture.
“Next fiscal we will set up another six hospitals in Andhra Pradesh and four in Maharashtra. We are also planning to set up eight hospitals in Karnataka. By 2011, there would be 30 and by 2013, the number would touch 100,” he stated.
HLL Lifecare, formerly Hindustan Latex Limited is a “Mini ratna” enterprise under the central health and family welfare ministry and a leading provider of a wide range of contraceptives, hospital and pharma products and health care solutions.