VPS Healthcare takes a shorter runway to enter Indian healthcare space by acquiring majority stake in Lakeshore Hospital
UAE-based healthcare conglomerate acquires majority stake in the 350-bedded Lakeshore Hospital & Research Center – one of the largest tertiary level super specialty hospitals in Kerala.
Kochi: In the past couple of years, healthcare delivery system marked the journey of the corporate healthcare industry in India with the steady growth of branded hospitals, advanced infrastructure and expert medical team. With an aim to set global benchmark in healthcare delivery, UAE-based healthcare conglomerate VPS Healthcare announced its decision to enter the country by acquiring majority stake in Lakeshore Hospital in Kerala, a tertiary level super specialty hospital and pioneer in large-scale health tourism.
Announcing this milestone in Kochi, Dr. Shamsheer Vayalil, Managing Director, VPS Healthcare, said that the acquisition is a part of the ambitious expansion plans VPS has chalked out for the subcontinent in the next 5 years. Dr. Shamsheer Vayalil has also taken over as the Chairman and Managing Director of the hospital, which has been renamed as VPS Lakeshore since the acquisition.
Presently, with 350 beds, more than 30 specialties and center of excellence for multi organ transplant services, VPS Lakeshore Hospital is already one of the largest super specialty hospitals in South India with state-of-the-art facilities and increasing number of successful procedures. “With the acquisition, VPS Lakeshore has become a part of our global healthcare mission which will definitely propel the growth of this reputed institution, both on facilities and capacities.As a beginning, part of the new 2 lakh sq. ft. block, with an investment of around Rs. 300 Cr., will be operational shortly. The new block will house advanced and efficient treatment facilities for cancer, cardiac and gastro-related diseases under one roof. Various services, including Radiotherapy [with two high-end LINAC (Linear Accelerator) with IGRT, IMRT and SRT (Stereotactic Radiotherapy) and Nuclear Medicine [including PET CT Scan, SPECT CT Scan and High dose Nuclear therapy] will also be made available in the new block. Shortly, we are also adding Cyberknife facility for stereotactic Radio surgery," Dr. Shamsheer Vayalil said.
Mr. S. K. Abdulla, who has taken over as the CEO of VPS Lakeshore, said in addition these, new Cardiac Electro Physiology Lab with ICD, CRT machines, which helps in the early diagnosis and providing advanced treatment for variation of heart beat, will also be set up in the new block.
" We see India as biggest opportunity in healthcare and acquisition of Lakeshore has great synergy with our growth strategy. Healthcare industry in India has tremendous potential to grow and Medical tourism industry is currently at a nascent stage and long way to go further. Our aim is to provide quality healthcare with focus on patient centric approach and to promote state of the art facilities for medical tourism
During first phase of our expansion plan in India, we have allocated over Rs.1000 Cr," Dr. Shamsheer said.VPS Healthcare already enjoys leadership position in UAE Medical Tourism arena with expert team of Doctors including North American, Australian and European Board Certified serving patients from several Middle Eastern and European countries.
Mr. Abdulla said, in healthcare, every interaction with the patient matters, especially in today´s environment of continuous improvement. "Our endeavor has always been focused on better patient outcome using a blend of knowledge, skill and expertise of our medical team strengthened by breakthrough technology and state-of-the-art infrastructure," he said. "Commitment towards quality excellence has made VPS as the largest private internationally accredited hospital network in the UAE," Dr. Shamsheer added.
The acquisition represents a remarkable step in our efforts to enter Indian healthcare delivery space. Lakeshore Hospital has been serving the community for the last 13 years and collaboration with VPS Healthcare will further strengthen its domestic and international position.
In a span of less than a decade, with a combined business turnover of around US$1 billion, VPS Healthcare has created a portfolio of 16 hospitals and network of over 100 medical centers in addition to ventures in pharmaceutical manufacturing and retail. "We are confident that the common value of VPS Healthcare and Lakeshore Hospital will form the basis of our future expansion plans in Indian subcontinent and other Asian market," Dr. Shamsheer said.