India's Wockhardt charts growth plan
14-May-15, Live Mint
Wockhardt Hospitals Pvt Ltd, part of the Habil Khorakiwala-promoted Wockhardt Group, has chalked out an expansion plan, nearly six years after it sold off a major portion of its business to Fortis Healthcare Ltd.
%20Mint.jpg "Indias Wockhardt charts growth plan (c) Mint")
Image: Mint
In 2009, the group sold 10 of 17 hospitals for INR9,009 mn to the Fortis group as it struggled to pay back a debt of nearly INR5,000 mn. The company is now looking at adding two hospitals every year, particularly in tier-I and tier-II cities. It has acquired land in Aurangabad for a 150-200 bed specialty hospital to be built in the next two years. More such greenfield projects in the western and central parts of the country are being planned.
Wockhardt Ltd and Wockhardt Hospitals are separate entities promoted by Mumbai-based Khorakiwala family.