Recently, Moolchand Healthcare, announced the acquisition of Pankaj Apollo Hospital, Agra. Pankaj Apollo Hospital is the largest private tertiary care hospital in Agra with a capacity of 200 beds. This acquisition is in line with Moolchand Healthcare’s Rs 500 crore expansion plan announced earlier this year and enables Moolchand to expand its footprint to cover Western Uttar Pradesh. The company is aggressively seeking additional acquisition opportunities as they intend to assemble a portfolio of 5-10 hospitals over the next few years. M Neelam Kachhap talks to Shravan Talwar, CEO of Moolchand Healthcare about the recent acquisition and business plans
Moolchand has been on a rapid expansion mode. What is the reason for this?
| Shravan Talwar |
The unveiling of the Rs 500 crore expansion plan and the acquisition of Pankaj Apollo Hospitals has set Moolchand on a rapid expansion mode. With this, Moolchand intends to grow as a leading player in the hospital services industry with additional acquisitions and expansions.
What capital is earmarked for these expansions? Who are the investors?
We have earmarked Rs 500 crore for these expansions. This is through means of equity, debt and internal accruals. The only external investor is Sequoia Capital who helped us raise Rs 100 crore.
Please share your expansion plans for 2013?
Acquisition and expansion will be our priority for the year 2013. We will aggressively venture out for the same in multiple locations across India. We will also commence construction of our new 300-bed hospital at our Medcity campus.
Are you looking at expanding beyond North-India? Which other locations are on your radar?
We are looking at expanding into markets where we feel we can make additional and subsequent acquisitions.
We are aiming at those markets in multiple places where we feel we can gain reasonable market share.
Would you be venturing into any other healthcare segment besides hospitals?
Yes, Moolchand has committed Rs 100 crore for acquisitions in the pathology and diagnostic segment.
What new verticals are you interested in?
Diagnostics and IVF services are the other sectors that we will be interested in.