Joint Venture20 Feb 2025, 04:32 pm
Krishna Institute of Medical Sciences Ltd Enters Operations and Management Agreement with Splendid Hospitals
AI Summary
Krishna Institute of Medical Sciences Ltd (KIMS) has entered into an Operations and Management Agreement with Splendid Hospitals Private Limited for an initial term of 7 years, with an option to extend for a further 3 years. KIMS will manage, operate, and control the hospital and provide medical services. The hospital, named 'Splendid Hospital,' is a 150-bed facility with potential to expand to over 200 beds, and is expected to commence operations in June 2025.
Key Highlights
- KIMS to manage and operate Splendid Hospital for an initial term of 7 years with an option to extend
- Splendid Hospital is a 150-bed facility with potential to expand to over 200 beds
- Hospital is expected to commence operations in June 2025
- KIMS to receive a revenue fee of 9% of the total Net Revenue
- Agreement enhances KIMS presence in Hyderabad, Telangana