Date:18/12/2008 URL: http://www.thehindubusinessline.com/2008/12/18/stories/2008121851460300.htm

Back ‘Meltdown will boost medical tourism’

– Bijoy Ghosh

Growth plans: Mr Shivinder Mohan Singh, CEO and Managing Director, Fortis Healthcare, at the launch of ‘Malar Heart Institute’ at Malar Hospital, in Chennai on Wednesday.

Our Bureau

Chennai, Dec. 17 The current economic crises of the US and Western Europe may be beneficial to the Indian healthcare industry, in terms of higher number of medical tourists.

Addressing a press conference, Mr Shivinder Singh, CEO and Managing Director, Fortis Healthcare, said, “We have not yet seen an increase of overseas patients coming to our hospitals due to the economic meltdown but it is expected that next year there would be patients from abroad wanting to get surgeries done at affordable cost in India.”

“Healthcare and education segments are the last to get affected due to an economic recession so it would take time for overseas patients to look at low-cost healthcare destinations,” he said.

Expansion plans

Asked whether there were any changes in Fortis’ expansion plans due to a slowdown in the economy, Mr Singh, said: “As envisaged we expect to grow to 40 hospitals with 6,000 beds by 2012. Our plan may be achieved at a faster pace. Medicity of 1,000 beds in Gurgaon and other hospitals that are coming up in Mumbai and Delhi are funded by long- term debt.” Currently, Fortis Healthcare has about 23 hospitals with 2,600 beds.

Talking about the expansion plans in Malar Hospital, Mr Singh, said, “We plan to invest about Rs 20 crore not at one shot but in a gradual manner to upgrade the infrastructure and improve systems.”

Cardiac facility

Inaugurating the cardiac facility at Malar Hospital, Mr M.K Stalin, Minister for Rural Development and Local Administration, Tamil Nadu, said, “The State has allocated Rs 2,741 crore towards healthcare during 2008-09 compared with Rs 1,950 crore in 2006-07. We plan to appoint about 756 doctors shortly.”