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Global Health Ltd, which operates the Medanta Hospital chain, 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 speciality hospital in Pitampura, New Delhi.
The hospital is expected to commence operations in 4 years, subject to necessary statutory and customary approvals.
As per the agreement, the hospital building and associated civil infrastructure will be developed by the Society, while Medanta will make necessary investments – a capex of ₹600 crore over the next 3 – 4 years – towards internal fit-outs, furniture and medical equipment.
Capex is to be funded by a combination of internal accruals and debt financing, it said in a statement.
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, the hospital chain further added.
According to Dr Naresh Trehan, Chairman & Managing Director, Medanta, this large scale format hospital aligns with its commitment to providing high-quality quaternary care.
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