The Hindu : Business : IFCR India to enter healthcare service sector

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Saturday, Jun 06, 2009
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IFCR India to enter healthcare service sector

Special Correspondent

KOCHI: IFCR India, a Kochi-based clinical research institute is all set to enter the healthcare sector with various projects and will launch an advanced MBA in healthcare services management in August.

To form joint venture

Talking to reporters, N. Ramachandran, a fellow and former faculty of IIM-Calcutta and CEO of IFCR India said a separate joint venture company would be established in association with Krishna Menon, a world renowned drug researcher in the U.S. The company plans to own and operate full service general hospitals, specialty hospitals, training institutions, research centres and hospital supplies facilities in Kerala to deliver high quality health care at affordable prices to the common man. The joint venture will also develop state of the art training centres to meet the enhanced need of healthcare professionals.

To acquire 10 hospitals

The company will initially take over ten hospitals across the villages of Kerala to offer its various services and products. The initial investment will be Rs.20 crore. The project will be expanded to other parts of Kerala in the second phase.

Anil Joseph, Managing Director of IFCR India pointed out that the healthcare sector in the country offered immense potential as there was a rise in the incidence of lifestyle-related and other diseases.

A growing elderly population is also pushing for better facilities in the country. Healthcare, which is $ 35 billion industry in India, is expected to reach over $ 150 billion by 2017, according to a Technopark Advisors study report. Hence this new venture of IFCR to start an MBA course in healthcare, he added.

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