The Prayagraj (Allahabad) in UP will be getting a 550-bed multi-specialty hospital in the next two years with an estimated investment of around ₹200 crore. The project has been carried out by Park Medi World Limited, in accordance with its growth plans for the healthcare sector in North India.
The hospital is being constructed in collaboration with Prayagraj Municipal Corporation under the Public Private Partnership (PPP) mode. It will be completed within a couple of years and will enhance the provision of specialist medical, health and care services to the city and its environs.
The company has sighted on expanding its network. The company is looking to expand its network.
Dr. Ankit Gupta, Managing Director of Park Medi World Limited, stated that it was an exciting milestone for the company’s growth plans. The company seeks to expand its overall capacity to about 6,600 beds by December 2028, with North India and emerging healthcare markets in focus, he added.
Now Park Medi World has 17 hospitals and has 4,290 beds in 15 cities of six states. In Uttar Pradesh it operates a 360 bed hospital in Agra and plans to set up other hospitals in Kanpur and Gorakhpur. The Prayagraj project (2018) will also boost its presence in the state.
Municipal Corporation to Support Construction
The Prayagraj Municipal Corporation will bear ₹76.52 crore for the construction cost, which is around 38 per cent of the project expenditure, under the project arrangement. This will cut down the company’s real investment to approximately ₹123.48 crore.
The company is also growing through the acquisition of several companies, the development of new hospitals and their expansion. Six more hospitals are in the process of being added to its network, according to the company, which also has to extend the capacity of three other hospitals.
The Prayagraj hospital is one of 6,600-bed facilities that the hospital expects to expand by December 2028.