Pacific Healthcare ropes in Birla Group for India venture
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Singapore: Pacific Healthcare Holdings has roped in Yash Birla Group to expand its presence in India in a joint venture. The venture will involve an investment of 10 million Singapore dollars ($7.2 million) in the healthcare sector over the next three years, executives said Wednesday. The proposed Birla-Pacific MedSpa will be 50 percent owned by the Yash Birla's group, 42.5 percent held by Pacific Healthcare and 7.5 percent by a dermatologist based in India. The tie-up plans to set up four medical spa centres and a wellness resort. Two of the centres will be in Mumbai and will open this year. The resort, featuring about 20 villas, will be in southern Goa. The locations for two other centres are yet to be decided. "Health care is a sunrise industry in India, where excellence is now the key word," said Yash Birla, chairman of the group. The centres and resort will target the middle and the upper class in India and patients from the Middle East, said Pacific Healthcare, which operates a specialist cosmetic and dental centre in Mumbai.
Source: IANS
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