Indian private hospital chain Aster DM Healthcare has announced the signing of a new lease agreement to establish a new women and children’s hospital in Hyderabad, Telangana.
The agreement was formalised on 22 September between Aster DM’s wholly owned subsidiary, Sri Sainatha Multispecialty Hospitals, and Aparna Constructions and Estates.
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It is valid for a term period of 30 years from the time of commencement of rent, Aster DM stated in a stock exchange filing.
As per this agreement, Aster DM will pay rent on the per square-feet basis of the chargeable space, along with other taxes.
The hospital chain will be required to pay an interest-free refundable security deposit of Rs97m ($1.16m).
For the establishment of the new hospital, which is planned to be carried out in two phases, Aster DM is investing nearly Rs2.2bn.
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By GlobalDataAster DM said it will make this investment via bank and internal accruals.
Once complete, the project is expected to add around 275 to 300 beds to the existing hospital capacity of 4,869 as of 30 June 2024.
According to a report by BioSpectrum India, the new hospital is being developed to provide a wide range of specialised medical services, including gynaecology, neonatal care, paediatrics, reproductive health, and obstetrics.
The facility is anticipated to feature a total of 100 critical care beds, luxury birthing suites, and ten modular operating theatres.
Some of the key maternal and paediatric care services and technology that will be available at the new hospital are round-the-clock emergency care, MRI, CT scans, ECMO, IVUS, and a catheterisation lab, among others.
The decision to develop a dedicated hospital for women and children in Hyderabad is in line with Aster DM’s strategic plan to address the increasing healthcare demands of the local population in the region.
The new hospital is located within a catchment area, majorly featuring a young migrant population, which also contributes to higher requirements for women’s and children’s healthcare services.
Aster DM’s filing stated: “With limited options for full-fledged Women & Child hospitals offering high-end super-speciality services, this project is well-positioned to serve an essential market need while capitalising on the city’s robust infrastructure and medical tourism potential.”
Last month, Aster DM opened its new paediatric and geriatric emergency departments at Aster MIMS Calicut in Kerala.
