Panacea Hospital, the Bengaluru-based multi-specialty hospital group, is planning a ₹70-crore expansion to tap the growing demand for affordable and quality healthcare services.

“We are planning to set up three satellite healthcare centres and specialty hospitals in Bengaluru, Mysuru and Belgaum,” C Jayanna, Chairman and Managing Director, Panacea Hospitals, told Business Line .

“The hospital group, which completed 15 years, is now looking for expansion. For this we have opted for brownfield projects except in Bengaluru, which will be a managed hospital,” he added.

Funding routes The hospital group is exploring three routes for raising resources for the expansion – private equity, bank funding and internal accruals.

MJ Srikant, the chief strategist, Panacea Hospitals, said, “We are looking to grow and expand year-on-year in phases to cater to a larger and wider audience in urban and semi urban geographies, with patient care, affordable and quality healthcare services.”

He added that “the Panacea Hospitals over the next five years will be 500 plus bed hospital group from current levels of 180 beds. We will also be entering the premium segments of fertility, maternal and infant care and other specialties.”

Advanced treatment Jayanna claimed that the hospital group, which is in the forefront of healthcare services, advanced treatment methodologies and surgeries, has so far performed over 40,800 surgeries, treated over 52,500 in-patients and 4,91,500 outpatients, since its inception.

V Srinivas, chief operating officer, Panacea Hospitals, said, “The hospital will continue to capitalise on all advances and developments in the field of medical science and medical electronics.”

“We also have plans to update and upgrade to more efficient versions of the existing treatment methodologies, which are on par with the healthcare services,” he added.

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