Indian hospitals chain KIMS Hospital Bengaluru, part of the Krishna Institute of Medical Sciences (KIMS), has announced the signing of new agreements to set-up and manage a new super speciality hospital in the state of Karnataka.
The hospital chain has finalised a lease agreement with local educational institution, Peoples Education Society (PES).
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KIMS’ partnership with PES comes as the latter seeks to develop a medical college and teaching hospital on its Electronics City campus in Bengaluru.
The upcoming 350-bed hospital, which is already under construction, will occupy a built-up area of 350,000ft², including a utility area and a bunker dedicated for radiation oncology.
It will span across 11 upper floors, along with an additional ground floor.
According to KIMS Hospital Bengaluru, it has leased the land and the hospital building from PES for 25 years.
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By GlobalDataIn addition to this lease deed, KIMS has entered into an exclusive management agreement for handling the operations of the new hospital.
As per the terms of this management agreement, KIMS will have full supervision and control over the upcoming hospital’s management, ensuring efficient operation.
The group will handle billing, revenue collection, and all other operational expenses, retaining the net profits annually.
KIMS Hospitals CMD Dr B. Bhaskara Rao said: “Our tie-up with PES for their upcoming 350 beds hospital is our second foray into Bangalore and it underscores the strategic importance that we assign to this city.
“Our first foray in Bangalore (415 bed hospital being built in Mahadevapura) will be operational in second half of fiscal year 2025. We believe there is tremendous opportunity for affordable and accessible clinical care brand like KIMS in Bangalore. We are confident that we will be able to replicate the KIMS model in Karnataka too.”
KIMS Hospitals, headquartered in Hyderabad, India, operates a network spanning Maharashtra, Andhra Pradesh, and Telangana, with a total of 12 hospitals and 3,975 beds.
The healthcare group is known for offering affordable tertiary and quaternary services across a wide range of services, with over 40 specialities and super specialities.
