ICICI Venture, a wholly-owned subsidiary of ICICI Bank, is planning to exit from the Kolkata-based Medica Hospitals Pvt Ltd.
ICICI holds nearly 50 per cent stake in the Rs 150 crore regional healthcare chain. The remaining is held between five promoters of the hospital.
According to Ayanabh Debgupta, CEO, Medica Synergie, a valuation exercise is already on to prepare exit of ICICI Venture and rope in a new partner.
“A new partner has already been identified. You will hear from us within a month or two,” Debgupta told
“Part of the fresh capital will be used to double our capacity over the next one year,” he added. Having started with a 300-bed hospital on the EM Bypass in Kolkata in 2008, Medica currently runs five hospitals in West Bengal, Jharkhand and Assam with a combined capacity of 1,000 beds. The company also runs a chain of medical stores and clinics.
According to the company, its flagship hospital in Kolkata broke even in 2010
According to Debgupta, Medica Hospitals is planning to double its bed capacity by setting up six new hospitals in the eastern and north-eastern regions.
“We will invest nearly Rs 100 crore to set up six new hospitals – two each in Jharkhand and Odisha, one each in Bihar and Meghalaya,” he said.