New Delhi: Global Health, operator of Medanta hospitals on Thursday announced that it has signed an operations and management agreement with Dr. Narayan Dutt Shirmali Foundation International Charitable Trust Society to operate and manage a 750 bed super specialty hospital in Pitampura, New Delhi. The hospital is expected to commence operations in four years.
Medanta is expected to incur a project capex of Rs. 600 crores in next 3-4 years, to be funded by a combination of internal accruals and debt financing.
Medanta will have full control over the day to day running of the hospital. The agreement is for an initial term of 30 years, further extendable on mutually agreeable terms.
As per the agreement, the hospital building and associated civil infrastructure will be developed by the Society and Medanta will make the necessary investments in internal fitouts, mechanical, electrical and plumbing, furniture and medical equipment.
The hospital will be located on a 7-acre site in Pitampura, New Delhi, with a total built-up area of 7.6 lakh sq.ft excluding the basement.
Medanta said the site offers good connectivity to the Outer Ring road and is in close proximity to high-density residential areas, which will enable Medanta to serve the region’s growing healthcare needs.
The proposed 750 bedded super-specialty hospital will cater to over 30 super specialties including cardiac, neurosciences, cancer, orthopaedics, digestive, hepatobiliary sciences, multispecialty robotic surgeries, regenerative medicine, as well as a full range of transplants.
“This large scale format hospital aligns with our commitment to providing high-quality quaternary care and will allow us to serve communities in Delhi for decades to come,” said Dr. Naresh Trehan, chairman and managing director, Medanta.
