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ICICI Venture takes majority stake in VHPL

Special Correspondent

Bangalore: ICICI Venture, part of the financial conglomerate, the ICICI Group, on Monday announced that it had taken a majority stake in the Mysore-based healthcare company, Vikram Hospital Private Ltd (VHPL).

The investment, for a consideration of Rs. 96 crore, has been made through ICICI Venture’s wholly-owned subsidiary, Iven Medicare India Private Ltd.

Managing Director of VHPL S.B. Vikram said that the company, which now had a super speciality tertiary care facility in Mysore, was establishing five more super speciality hospitals in that city, apart from expanding the cardiac care facility at its main hospital in Mysore.

It also planned to set up hospitals in other districts. He pointed out that the company planned to invest Rs. 300 crore in the next two or three years, resulting in an additional capacity of 1,500 beds in super speciality facilities.

He said that the company was focused on only providing secondary and tertiary healthcare, while adopting a “doctor-driven model”.

Local doctors would thus not feel that his company was competing with them, he pointed out.

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