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KIMS plans to expand 350-bed hospital in Bengaluru

1 Jun 2024 , 03:07 PM

On Thursday, May 30, the hospital chain Krishna Institute of Medical Sciences (KIMS) Ltd said that KIMS Hospital Bengaluru Private Ltd, a subsidiary, has signed a lease to open a 350-bed superspecialty hospital at the Peoples Education Society (PES) campus in Bengaluru’s Electronic City.

PES has granted KIMS Hospital Bengaluru a 25-year lease to use the hospital’s land and facility. Furthermore, KIMS and PES have a management agreement in place that limits KIMS’s ability to control hospital operations.

PES, a well-known university, is now establishing a teaching hospital and medical college on its Electronic City site. Situated on 350,000 square feet, the new hospital will include cutting-edge amenities encompassing a bottom floor, 11 upper stories, utilities spaces, and a radiation oncology bunker.

Our partnership with PES for their upcoming 350-bed hospital is our second foray into Bangalore and it highlights the strategic importance that we assign to this city, stated Bhaskara Rao, CMD of KIMS Hospitals.

In accordance with the terms of this agreement, KIMS will oversee all hospital operations, including billing, revenue collection, and expense management, and it will be entitled to keep all net profits.

All billing and revenue collection for the superspecialty hospital will be handled by KIMS, which will also bear operational costs. The hospital network stated that KIMS will be the only recipient of the superspecialty hospital’s net profits for each fiscal year.

In the second half of FY 25, our first venture in Bengaluru—a 415-bed hospital being constructed in Mahadevapura—will open for business. We think Bengaluru presents a great opportunity for brands of accessible and reasonably priced clinical care, like KIMS.

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