Close on the heels of DLF and Ansal API, realty major Emaar MGF has also jumped onto the healthcare bandwagon by entering into a memorandum of understanding (MoU) to form a joint venture with Fortis Healthcare to develop hospitals in Tier I and II cities across the country.
According to sources, the company is expected to enter into many more such strategic alliances with other national and international operators in a bid to become a big player in the field of healthcare.
This is in sync with the company?s UAE-based joint venture partner’s (Emaar Properties’) plans to develop and manage over 100 hospitals, clinics and medical centres in the Middle East and North Africa (MENA) region, the Indian subcontinent and South East Asia in the next 10 years. For this, a separate company by the name of Emaar Healthcare Group has been set up with a capital outlay of $5 billion.
As per the Draft red herring prospectus (DRHP) filed by Emaar-MGF last week, the company intends to develop hospitals, clinics and medical centres for primary, secondary and tertiary healthcare facilities, primarily in their master planned communities.
?The nature and type of facilities shall be dependent on the requirements in the community and/or region. We intend to enter into strategic alliances with specialist service providers and operators, which could be in the form of joint venture relationships, operations and management contracts, franchisees or other types of relationships. Our aim would be to ensure that each of our master planned communities have world-class healthcare facilities,? it says.