Medicover will invest another Rs 220 crore within the next two years to hold 51 per cent in MaxCure, which currently has nine hospitals in Telangana and Andhra Pradesh.
The partnership was announced at a joint news conference by Anil Krishna, founder and Managing Director of MaxCure and Fredrik Stenmo, chairman, Medicover.
This acquisition, which brings European and Indian expertise together, will strengthen the presence of Medicover in India, they said.
Hari Krishna, CEO, MaxCure, said the group will increase the number of hospitals to 20 within two years with a total investment of Rs 500 crore including the investment by Medicover.
It plans to open three new hospitals in Bengaluru, Chennai and Pune in the next financial year. He said they were also looking at opportunities in Delhi, Guwahati and other cities.
This is the second investment of Medicover, after it ventured into the Indian healthcare sector last year with the launch of In Vitro Fertilisation (IVF) clinics in Delhi.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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