Aakash Healthcare, an affiliate of Aakash Institute—whose reins currently lie with the embattled edtech firm Byju’s—is planning a significant expansion over the next five years. It aims to add 1,000 to 1,200 beds and reach a valuation of approximately Rs 3,500 crore.
The expansion will initially be self-funded and will add 800 beds. The growth strategy is underpinned by capacity expansion across various medical specialties, including tertiary care and super-specialty hospitals.
“The current valuation of our three hospitals totals Rs 1,800 crore, earning an annual turnover of about Rs 325 crore. We have set our sights to expand significantly over the next five years, self-financing initially to reach a capacity of 800 beds (in the initial phase) across all hospitals,” says Dr Aashish Chaudhry, Managing Director of Aakash Healthcare.
The company plans to fund this expansion through internal funding, but to achieve the growth, it may also explore external options. Prioritising regions with similar demographics, patient mindsets, and business strategies remains essential. “Future expansion plans will revolve around diverse business models and Aakash Healthcare will consider various ownership arrangements to allow fast expansion and minimal upfront costs,” says Chaudhry.
The emerging healthcare brand has recently launched a pilot project in Agra that focusses on orthopaedics. More are expected to follow in three to five years across a host of Tier II cities, says Chaudhry. It is also branching into ancillary businesses and inroads are being made in 3D printing technology.
The firm aims to leverage the expertise of Indian doctors on a global front, bringing in advanced technologies and skills that would enhance patient outcomes and push innovation in healthcare design. @neetu_csharma