UAE Conglomerate to invest Rs.1,000 crore in Indian healthcare

Kochi: To set the global benchmark in healthcare delivery, UAE-based healthcare conglomerate VPS Healthcare on Monday announced it will enter India by acquiring the majority stake in Lakeshore Hospital here. VPS Healthcare, which will now be known as VPS Lakeshore, has set aside Rs.1,000 crore for their expansion plans in India. Announcing this, Shamsheer Vayalil, managing director, VPS Healthcare, said the acquisition is part of the ambitious expansion plans VPS has chalked out for the subcontinent in the next five years. "With the acquisition, VPS Lakeshore has become a part of our global healthcare mission and the new Rs 300 crore block would be open soon," said Vayalil. VPS is the largest private internationally accredited hospital network in the UAE. In a span of less than a decade, with a combined business turnover of around $1 billion, VPS Healthcare has created a portfolio of 16 hospitals and network of over 100 medical centres in addition to ventures in pharmaceutical manufacturing and retail. Lakeshore Hospital is a super specialty hospital and leader in health tourism.