Park Medi World to Develop 550-Bed Hospital in Prayagraj for ₹200 Crore Under PPP Model
Park Medi World Limited will develop and operate a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh, under a PPP model. The project entails an investment of approximately ₹200 crore, with ₹76.52 crore to be reimbursed by the State Government. The hospital is slated for construction over two years.
The development of a large, multi-super-speciality hospital represents a substantial investment and expansion of services, which is expected to have a significant impact on the company's market presence and future revenue.
The announcement details a significant capacity expansion through a strategic partnership and government support, indicating positive growth for the company.
Park Medi World Limited has been awarded a mandate by the Prayagraj Municipal Corporation, Uttar Pradesh, to develop and operate a 550-bed multi-super-speciality hospital in Prayagraj under a Public-Private Partnership (PPP) model. The company will construct the hospital over a two-year period from the appointed date and operate it under a long-term lease of 45 years, involving an investment of approximately ₹200 crore. The State Government will reimburse ₹76.52 crore towards hospital construction. This project is part of Park Group's strategy to expand its capacity in Uttar Pradesh, which will reach 1,260 beds upon completion of this and other ongoing projects, positioning the group as a leading private healthcare provider in the state.
Dr. Ankit Gupta, Managing Director of Park Medi World Limited, stated that the partnership allows the company to bring high-quality, affordable tertiary care to a region that needs it, reflecting a commitment to disciplined, capital-efficient growth and partnering with the government to strengthen the healthcare ecosystem in North India. Park Group currently operates 17 hospitals with approximately 4,300 beds and plans to add around 2,000 more beds through new facilities and expansions, aiming for a total capacity of approximately 6,300 beds.
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