Regency Healthcare to invest Rs 450 crore to open 3 hospitals

New Delhi: Kanpur-based Regency Healthcare is planning to open three hospitals by the end of 2019 at an investment of Rs 450 crore, a senior company official said.

The company currently has five multi-specialty tertiary care hospitals with over 620 beds.

"We plan to add three hospitals with a total of around 750 beds by the end of 2019 as part of our expansion plans. We will be investing Rs 450 crore for this," Regency Healthcare SVP-Strategy Abhishek Kapoor told.

The hospitals will be opened in Lucknow, Kanpur, and Varanasi, he added.

"The Kanpur hospital will have 350 beds while Lucknow and Varanasi will have 200 beds each," Kapoor said.

When asked how the company plans to fund the expansion, Kapoor said: "It would be a mix of debt and equity. Going forward we plan to adopt an asset-light model."

The company had earlier in March this year raised around USD 14 million (over Rs 90 crore) from a consortium of leading investors IFC, KOIS, and Healthquad.