Kochi–UAE-based healthcare conglomerate VPS Healthcare on Monday announced it will enter India by acquiring majority stake in Lakeshore Hospital here to set global benchmarks in healthcare delivery.
Lakeshore Hospital here will now be known as VPS Lakeshore.
VPS Healthcare has set aside Rs.1,000 crore, or about $200 million, for its expansion plans in India.
Announcing this, VPS Healthcare managing director Shamsheer Vayalil 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.