Asian Institute of Medical Sciences bags Rs 139 crore investment from CDC Group
Asian Institute of Medical Sciences (Asian), a 725-bed tertiary care service provider with facilities spread across Delhi NCR, Haryana, UP, Bihar & Jharkhand announced it has received USD 21 million (Rs 139 crore) investment from CDC, the UK's development finance institution, a leading investor operating in growth markets.
Established in 2010, Asian commenced operations with a 350-bed facility at Faridabad with centres of excellence across key tertiary care specialties including Cardiology, Oncology, Nephrology, Critical Care, and Orthopaedics. Over the last 3 years, the Company has further expanded the business with four more hospitals at Dhanbad, Moradabad, Sambhal, Yamuna Vihar & 3 primary healthcare clinics in & around Faridabad. As part of the next phase of expansion, the Group intends to add 1,000 more beds over the next 3 years with new hospitals being planned across states of Delhi NCR, Haryana, UP, Bihar & Jharkhand.
Asian Faridabad is one of the fastest hospitals to get NABH accreditation and has several accolades to its credit including being rated as one of the Top 5 facilities in Delhi, NCR by The Week (2017), the Best Healthcare Brand in India by ET in 2017 & also rated in the top 10 hospitals by All India Lifestyle Hospital & Clinic Survey by TOI in 2015 & 2016.
Dr. Narendra Kumar Pandey the promoter and founder of Asian is a D.Sc(Hon), FRCS(UK) and has over 3 decades of experience including 10 years of practice in the UK. Dr. Pandey spearheaded Escorts Group of Hospitals for over 25 years and was instrumental in establishing one of the first modern private hospitals in NCR. Dr. Pandey has been conferred with the Padmashree & B.C. Roy National Award for his extensive work in the healthcare sector. He is ably assisted by his sons Anupam Pandey (BE, MBA (UK)) and Dr. Prashant Pandey(MBBS, M.Sc in Healthcare Management (UK)) in managing the operations.
Welcoming the Investment, Dr. Pandey, Chairman and Managing Director, Asian said: "This investment lets us expand and develop high-quality medical facilities, allowing us to replicate our success at Faridabad across the other major towns in UP, Bihar & Jharkhand. The new investment gives us the capacity to expand the number of beds available to patients from the current level of 700+ to close to a 1,750 by 2021."
Dr. Pandey added, “At Asian, we firmly believe quality Healthcare is a basic need and needs to be delivered closer to where the need is and not only in big metros. The development focused investment approach taken by CDC, and their ability to stay Invested for a longer tenor help us achieve our vision of reaching out to those tier 2 & tier 3 towns of North & East India that have huge unmet demand for quality healthcare services”.
Welcoming the investment in Asian Institute of Medical Services, CDC Managing Director and Head of South Asia, Srini Nagarajan said “We’re pleased to be able to support a healthcare company that will reach patients that currently have to travel many hours to large cities like Delhi and Calcutta to receive the treatment they need. Our investment in Asian will increase access to high-quality care in poorer and under-served cities in Northern and Central India. It will also create many jobs and training opportunities in these cities.”