Nanavati Hospital collaborates with Radiant Life Care for expanding operations
Mumbai’s top speciality healthcare Nanavati Hospital, which was inaugurated by late Prime Minister Jawaharlal Nehru in the year 1950, has entered into O & M (operations and management) alliance with a medical management organisation called Radiant Life Care. The hospital aims of introducing international hospital management practices, expanding operations and transforming its name into a super-speciality medical centre.
Post-Alliance, the hospital had 360-beds; however this tie-up will help in adding another 250 beds at the healthcare centre at the cost of Rs 350 crore. The money will be used for upgrading the existing facilities at the hospital making, equipping it all the latest technology.
“The brand Nanavati will remain intact. Over the past six months, we have screened a series of healthcare management facilities, both domestically and internationally. We found Radiant to be the most appropriate partner,” revealed Chairman Trustee of Balabhai Nanavati Hospital, Priyam Jhaveri.
Soi, chairman of Radiant Life Care said that "Radiant Life Care that is promoted by Mr Abhay Soi plans on streamlining operations by bringing in international practices and introducing different types of medical services at the hospital. This healthcare management company also manages Delhi’s reputed BLK Super Speciality Hospital. “The alliance will give us a unique position of managing two iconic super speciality hospitals in India’s two biggest metros,”.
Radiant Life Care had a significant role transforming BLK Super Speciality Hospital into Delhi’s best hospitals expanding it to 650 beds. Nanavati Hospital burdened by its financial crunch, high operating costs, and its inability to actually compete with other hospitals, Nanavati Hospital has decided to streamline and to expand operations by collaborating with the existing players. The hospital’s trust is receiving proposals from multiple healthcare investors, including global healthcare majors.
Radiant’s alliance with Nanavati Super Speciality Hospital, Mumbai is yet another example of the rising trend which seeks services of healthcare firms for redeveloping and managing the hospitals. “Hotel industry was the first to leverage on the O&M model in India. This trend is fast catching up in the healthcare sector. This will lead to faster redevelopment and expansion of hospitals at a time when consumers are looking for modern healthcare facilities,” said an analyst from a multinational institutional brokerage company, who didn’t want to be named.
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