Top Class healthcare facilities in Chennai - Good progress witnessed in many healthcare brands in Chennai now!!
How many are aware that Coimbatore based Kovai Medical Centre and Hospital or KMCH have acquired land at OMR in Chennai for expansion? Sound`s incredible right!!
The important piece of information is that the healthcare sector is witnessing consolidation as many companies have been reporting good progress. It is known that Chennai is the hotspot in the healthcare sector and there are notable changes. Various positive developments that have been witnessed on the healthcare landscape are private equity investments, digitalisation, doctor turned entrepreneurs managing hospitals, expansions etc.
In Chennai, top healthcare brands like Apollo Hospitals, Kauvery Hospitals, MGM and Dr. Agarwal etc have been expanding. Not only these, top healthcare brands from tier 1 locations like Madurai and Kovai etc have been making their presence felt in Chennai. In the future, residents of Chennai would be able to come across Kovai Medical Centre and Hospital unit at OMR as they have purchased land there. Information gathered is that KMCH would be setting up a 200 to 300 bed hospital in the vast 2.2lakhs sq ft area.
In the same manner, people going to Poonamalle would come across a new multi speciality hospital as the Velammal Group of Madurai would be making their presence felt there.
According to Mr. Harish Manian, CEO of Baby Memorial Hospital Group (KKR managed healthcare platform), all major healthcare players have been performing very well. After the Covid pandemic, people have become more health conscious and have been showing keen interest in their health. This has turned profitable for the hospitals now. He spoke about how Chennai is now on par with those in Delhi and Bengaluru etc with respect to average revenue per occupied be per day.
It has been brought to light by a report from CRISIL that the average revenue/occupied bed/day would increase to Rs 38000 in FY 25from Rs 31000 in FY22. In 2027, the healthcare market in India would go to Rs 8.6lakh cr size. Point is that the investments by start-ups in healthcare and related technology have been moving upwards by 19%.
In the next 4 years, Apollo Group would be adding 3512 beds across 11 cities in India and this includes a 600 bed hospital in OMR. In this aspect, Apollo Group would be investing Rs 6100 crores.
In Alwarpet in Chennai , MGMs plan of expanding by setting up a multi speciality hospital of 450 beds has been progressing slowly. It must be taken into note that Fortis Healthcare in Vadapalani in Chennai but was acquired by Kauvery Hospitals after it faced stiff competition from Manipal based hospital.
The healthcare system in Chennai is superb and golden and this was mentioned by Mr. BG. Menon of ACME, a consulting entity. He added d that the returns have been good and insurance was responsible for that. The ramping up strategy of healthcare players has been speeded up by insurance plus due to the growing importance of Ayushman Bharat.
