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Jaslok Hospital to continue operations, no potential suitor yet

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Mumbai | Published: May 14, 2019 4:34:04 AM

Mumbai-based Jaslok Hospital on Monday put all speculations to rest, regarding the takeover of its daily operations by potential suitors.

Jaslok Hospital said it was looking forward to expand its modular operation theatres, expand out-patient department services and catheterisation laboratory, as well as other medical facilities.

Mumbai-based Jaslok Hospital on Monday put all speculations to rest, regarding the takeover of its daily operations by potential suitors. It announced the handling of operations and management control will remain with the hospital, which would also ramp up its refurbishment plan. The hospital is looking forward to add 50,000 sq ft to its current space.

Earlier, media reports had indicated that Malaysian IHH Healthcare Berhad (that took over Fortis Healthcare), KKR-backed Radiant Life and the Hinduja Group were among the prospective suitors that are looking to take over the operations of Jaslok Hospital.

Jaslok Hospital CEO Jitendra Haryan told FE that the talks with some players were indeed on earlier but there was lack of a mutual consensus. “The talks were on. But, the terms needed to be worked out. It was not working out to a mutual consensus. In fact, we were trying to go on our own earlier. The discussions were not materialising and hence, we thought we will go on our own,” he said.

Haryan also indicated the hospital was comfortable with its cash position and intended to fund the planned refurbishment through a mixture of internal accruals and debt. “The refurbishment plan is over a period of five to six years. We will fund it through internal accruals as well as some debt. For the next two years, we can easily do it on our own. At some point in time, if we require funds, we will think about the debt.”

Jaslok Hospital said it was looking forward to expand its modular operation theatres, expand out-patient department services and catheterisation laboratory, as well as other medical facilities. “The expansion plan will be divided in different phases to ensure continuity of the hospital services in a full-fledged manner. The first phase of the refurbishment began last year,” it stated.

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