Rainbow Hospital lines up Rs. 220 crore for expansion

Rainbow Children’s Medicare Private Ltd, which runs Rainbow Hospitals, in investing Rs. 220 crore for expansion over the next two years.

“This investment will primarily be used in our on-going expansion projects in Visakhapatnam, Chennai and Jaipur in setting up new hospitals which will be ready in the next two years,’’ Ramesh Kancharla, Managing Director, Rainbow, told newspersons here.

The Hyderabad-based hospital is likely to raise debt of about Rs. 75 crore for the purpose.

The remaining funds will be mobilised from internal accruals and other avenues.

Established in 1999, Rainbow now operates hospitals in Hyderabad, Vijayawada and Bengaluru with combined strength of 700 beds.

“The expansion will add about 450 beds to our existing strength.

“Our idea is to set up paediatric specialty hospitals across the country over a period of time,’’ Kancharla said. The results in speciality paediatric hospitals in child healthcare were better than multi-speciality hospitals, he claimed.

Rainbow has also roped in Telugu actor Mahesh Babu as its goodwill ambassador.