MUMBAI: Bajaj Group earmarks 100 billion rupees (US$1.1bil) as an initial investment to establish a chain of hospitals in India.
The conglomerate intends to invest the sum in phases to build out a network of affordable and high-class hospitals and health-care facilities, according to sources.
Indian media, including the Economic Times, reported in August that Bajaj planned a foray into hospitals, without disclosing how much it aimed to invest.
Bajaj’s move coincides with growth in Indian health care as the nation’s wealth and insurance coverage increases and the number of people reaching retirement age accelerates. — Bloomberg
