Acquisitions14 Mar 2024, 10:35 pm
Krishna Institute of Medical Sciences to set up a new hospital in Thane with an investment of Rs. 500 Cr.
AI Summary
Krishna Institute of Medical Sciences Ltd has entered into a definitive agreement to acquire land on a 99-year lease and purchase a building for establishing a new multi-specialty hospital in Thane. With an investment of around Rs. 500 Cr, the hospital will add 300 beds to the existing capacity of 3,975. The occupancy rate as of December 2023 was 72.2%. The new hospital will be the third in Maharashtra for the company, following its presence in Nagpur and Nashik, which is expected to open in Q1 FY25.
Key Highlights
- Krishna Institute of Medical Sciences to acquire land and building for a new hospital in Thane
- Investment of around Rs. 500 Cr for the new project
- New hospital will add 300 beds, increasing the total capacity to 4,275
- Current occupancy rate is 72.2%
- Company already has a presence in Nagpur and Nashik