Paras Healthcare infuses Rs 500 crore to add 830 beds in 2019

"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," Paras Healthcare Managing Director Dharminder Nagar told.

New Delhi: Established in 2006, Paras Healthcare aims to fill the specialized tertiary care gap in the under-served region. The firm seems to move forward with the objective as it has recently infused Rs 500 crore to add 830 beds in 2019, a top company official said Wednesday. The company has hospitals in Gurugram, Patna, Darbhanga and Panchkula.

"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," Paras Healthcare Managing Director Dharminder Nagar told.

The multi-speciality hospital in Panchkula is a part of the company's expansion plan for the year, he added.

Paras Hospitals, Panchkula, the new 232 bed hospital, is the first in the region to provide comprehensive cancer care facilities ranging from chemotherapy, surgical oncology, radiation therapy and nuclear medicine. It is the first hospital in Panchkula to have a PET CT Scan machine, the latest technology which aids in cancer detection.

The company will also be opening a hospital in Ranchi with 350 beds during the year and will be adding 250 beds in another hospital, Nagar said without disclosing the location of the hospital.

The hospital in Ranchi is being set up in partnership with Heavy Engineering Corporation (HEC), he added.

When asked how the company is funding the expansion, Nagar said: "This is mainly through equity which we have raised. The company had raised USD 42 million (around Rs 275 crore) in July 2017 from private equity firm Creador. The rest would be through debt."

The company follows an asset-light model and its focus has always been to serve the middle class and to manage the quality and be cost-effective, he added.

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