Wockhardt Hospitals Ltd, a chain of super speciality hospitals, is eyeing overseas markets. The group is implementing an overseas project and is hopeful of commissioning it in the next 12 to18 months.
Disclosing this to FE, Vishal Bali, CEO ofWockhardt Hospitals said that this is part of the group?s strategy to expand in the developed countries. Neither did he disclose as to where the project is coming up nor the business model. However, he said that last year, out of 2,500 patients who were treated last year for cardiac and spinal surgeries, about 70% were from the US and European countries. ?We hope to see the project taking shape in the next 12-18 months and based on the success, we would be expanding our presence to take in more international patients,? he added.
?We see a lot of potential in medical tourism in the country as there is globalisation of the healthcare scenario. With 40% y-o-y growth, developed countries have made a choice to get treated in India which is due to compulsion of costs as well maintenance of quality standards,? he said. Incidentally, it is the only private hospital group associate of Harvard Medical International and is also one of the first hospitals in South Asia to have received international accreditation from JCI certification. Following the quality culture, the hospital in Mumbai would soon be going for re-accreditation soon as JCI certificate is valid for a period of three years.
Meanwhile, the company is aiming at expanding to tier II cities. According to Bali, it is looking at brownfield facilities which can be refurbished, equipped and can operate hospitals located on the premises of others pursuant to revenue sharing or lease arrangements.
The company is looking at JCI certification for four more hospitals out of the planned seven hospitals in major metros by next year. Altogether, it will be adding 16 more specialty hospitals from the existing 12 hospitals by 2009.
