Indian hospital chain operator Paras Healthcare is committing 500 crore rupees ($70.3 million) to add 830 beds across its three hospitals in 2019.
The project will include adding 232 beds in the company’s Panchkula hospital which it just inaugurated as part of Paras Healthcare’s extension plan for the year.
In addition, Paras Healthcare will be inaugurating a hospital in Ranchi, which is being established in collaboration with Heavy Engineering Corp., with 350 beds during the year and will be adding 250 beds in another hospital.
The company is financing the extension project mainly through equity which it has secured and the rest via debt. In July 2017, it secured $42 million from private equity firm Creador.