UK's CDC Group invests in Asian Institute of Medical Sciences
05 February 2018
CDC Group, the UK's development finance institution, has invested $21 million (Rs139 crore) in Asian Institute of Medical Sciences, which the firm will use to provide improved healthcare and new jobs across India's underserved states.
Set up in 2010, Asian Institute of Medical Sciences is a 775-bed hospital operator focused on bringing multi-specialty facilities including cardiology, oncology, critical care and orthopaedics to underserved cities in Northern & Central India.
''We're pleased to be able to support a healthcare company that will reach patients that currently have to travel many hours to large cities like Delhi and Calcutta to receive the treatment they need. Our investment in Asian will increase access to high quality care in poorer and under-served cities in Northern and Central India. It will also create many jobs and training opportunities in these cities,'' said Srini Nagarajan, managing director and head of South Asia for CDC said.
CDC's long-term investment will support the company's five-year expansion into tier 2 and 3 cities in Jharkhand, Bihar and Uttar Pradesh, where it will add 1,000 beds at new and existing multi-specialty sites. This expansion will create around 2,000 new jobs and deliver training and improved skills for nursing and paramedic staff in these cities.
''At Asian, we firmly believe that quality healthcare is a basic need and it needs to be delivered closer to where there is need and not only in big metropolitan centres. We already have our footprint in tier 2 and tier 3 towns. Our association with CDC is going to support us in expanding our services further in states like UP, Bihar and Jharkhand,'' Asian Institute of Medical Services founder, N K Pandey said.
The hospital currently runs three tertiary care hospitals in Faridabad (Haryana), Moradabad (Uttar Pradesh) and Dhanbad (Jharkhand)), two secondary care hospitals in Yamuna Vihar (Delhi) and Sambhal (Uttar Pradesh) and three health clinics in Faridabad, Palwal (Haryana) and Gr. Kailash.
The company will add up to 1,000 beds through its existing facilities in Moradabad and Dhanbad and in new facilities in Haryana, Bihar and Jharkhand.