Renowned doctor and philanthropist Ravindranath Kancherla, founder of Hyderabad headquartered Global Hospitals Group, has pledged 70 per cent of his wealth, amounting to ₹350 crore, to set up Global HealthTech University & Innovation Hub (GHUIH), a world-class, not-for-profit, medical education, research and innovation institute.
“GHUIH is being established in Hyderabad to provide a new model for sustainable development of medical infrastructure, which helps the global population by building infrastructure on a philanthropic model,” Kancherla said in a release on Tuesday.
“It would also reduce the load on governments and reduce the cost of intervention through innovation, thus providing health security”, he added.
“This institution is the first of its kind in India and among a few in the world. I have pledged 70 per cent of my wealth for this cause and have appointed executors for my registered will to ensure the project goes on despite any eventuality,” he said.
World class resources
GHUIH would consist of a top medical university and hospital with multi disciplinary research and a focus on innovation, with its own teams who interface and collaborate with reputed medical, technical and management institutes.
Funding
To establish a medical university, a 750-1000 bed hospital, and a health-tech innovation hub requires a capital of more than $100 million over a period of seven years put towards medical technology infrastructure and human resources.
While Dr Ravindranath pledged 70 per cent of his wealth to this noble cause, thus guaranteeing 50 per cent of the capital requirement, many of his philanthropic friends from medical, pharmaceutical, technological, and commerce fields across the globe have evinced a keen interest to contribute the balance required funds, along with supporting the cause with ideation and knowledge.
Citing an analyst report, the release said that compared to the United States, which has 2.672 doctors per 1,000 people and 3.1 hospital beds per 1,000 people, India has a mere 0.599 doctors and 0.9 hospital beds per 1,000 people.