Krishna Institute of Medical Sciences (KIMS) will be opening new hospitals in Mumbai and Bengaluru as part of its expansion plans. “We are pretty confident we’ll be able to launch Bengaluru and Mumbai projects in the fourth quarter of the current financial year and don’t anticipate any delay at this point in time,’‘ Bhaskar Rao Bollineni, Founder and Managing Director, KIMS said.
In Nashik, the Hyderabad-based corporate hospital chain is ready with its facility and also onboarded a few doctors. “We’re just waiting for the final occupancy certificate from the local authorities and we are ready to start operations once we receive it,’‘ he said.
In therapeutics, KIMS will add cancer and mother and childcare departments in three of its units by the end of the financial year. It recently acquired Queen’s NRI Hospital in Visakhapatnam which also has a division for cancer, he said.
KIMS is planning to strategically grow into markets that are adjacent to the current core markets of Andhra Pradesh and Telangana.
KIMS’ flagship hospital witnesses an influx of patients and doctors from Central India. Given the scarcity of quality healthcare in the region and the awareness about the KIMS brand in Central India, the hospital is looking to set up smaller facilities in in regions such as Mumbai, Indore, Aurangabad, Nagpur and Raipur.
In Bengaluru and greater Karnataka, KIMS observed both patients going for cash payments and those with insurance coverage travelling from the districts of Andhra bordering Karnataka to seek treatment at larger hospitals in Bengaluru. Karnataka is a natural growth market because a sizable portion of the State speaks Telugu — the main language spoken in Andhra and Telangana, he said.
Odisha’s proximity to KIMS hospitals in Visakhapatnam and Srikakulam in northern Andhra, that already serve a significant number of patients travelling from south Odisha for treatment, also makes Odisha a probable market for expansion.
In the first quarter ended June 30, 2024, KIMS posted 13.8 percent increase in its consolidated total revenue on a year-on-year basis with a net profit of ₹95 crore against ₹86.7 crore net profit earned in the year-ago period.
SHARE
Published on August 24, 2024
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Comments are closed, but trackbacks and pingbacks are open.