CorporateKamineni group to set up hospitals in Andhra Pradesh
City-based Kamineni Hospitals today said it would set up a chain of hospitals across Andhra Pradesh under a Rs 300 crore-expansion plan in the next two to four years.
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The hospitals would come up in Vijayawada, Visakhapatnam, Rajahmundry, Kakinada and Guntur, Dr K Shashidhar, Managing Director of the Kamineni Hospitals, said.
The first hospital would be set up in Vijayawada with 200 beds.
Shashidhar said the Kamineni Hospitals group, which is at loggerheads with Wockhardt Hospitals over partnership in two hospitals in Hyderabad, would establish the facilities on its own and Wockhardt would not have any role in the venture.
"We understand that they are not in position to bring in capital to partner with us in the new ventures," Shashidhar told PTI.
Apart from internal resources, some banks have agreed to finance the project, he said.
In a related development, a Wockhardt spokesperson said the group had filed a petition under Section 9 (A) of the Arbitration and Conciliation Act in the Hyderabad City Civil Court against Kamineni Hospitals, challenging the termination of the agreement which was for 30 years.