Business Daily from THE HINDU group of publications
Tuesday, Aug 08, 2006


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Alliances & Joint Ventures
Marketing - Retailing
Manipal Health, Pantaloon tie up for retail healthcare

Our Bureau

Joint venture co to open 100 stores over next two years


Cure & care
To offer pharmacy, consultation, cosmetology, dentistry, optometry and sports rehabilitation under one roof.
To bring healthcare delivery out of hospitals and clinics into a mall environment.

Bangalore , Aug. 7

Manipal Health Systems (MHS) has announced a joint venture with Pantaloon Retail for a comprehensive retail healthcare foray.

Manipal Cure & Care Ltd, the joint venture company with an initial investment of Rs 10 crore, will open 100 stores by the same name across the country over the next two years to offer pharmacy, consultation, cosmetology, dentistry, optometry and sports rehabilitation under one roof, MHS said in a release.

Innovative model

"Manipal Cure & Care stores are a new and innovative model bringing healthcare delivery out of hospitals and clinics into a mall environment," said Dr Ranjan Pai, CEO, Manipal Education and Medical Group.

"We plan to invest over Rs 800 crore in our healthcare business in the next five years. This segment contributed approximately 30 per cent to the turnover of group and we expect it to generate more than 50 per cent of turnover by 2011. The growth will come from initiatives like Manipal Cure & Care and the new hospitals that are being added to our chain using organic and inorganic modes."

As per an MoU signed over the weekend, the existing pharmacies of both companies will now come under the brand name.

The first Manipal Cure & Care store will come up on a 7,000-sq. ft space on Old Madras Road in Bangalore.

The consultations will cover general medicine, paediatrics, ENT, dermatology, ophthalmology and sports medicine

Manipal, said to be the Asia's largest hospital management group, will combine its 50-year experience in healthcare with Pantaloon's retail success, real estate and front-end customer experience.

New clinics in malls

The over Rs 2,000-crore Pantaloon runs the Central, Big Bazaar and Food Bazaar malls. The nearly Rs 250-crore MHS would be putting up a clinic in every Big Bazaar and also a healthcare space for consultation, sports and dermatology care in all the Pantaloon malls in the coming months, Dr Pai told Business Line.

MHS would also try to match Pantaloon's pricing USP. With each health store estimated at Rs 2 crore-3 crore, he said it may amount to Rs 25 crore per partner; Manipal would fund it through internal resources, private equity and debt.

Dr Pai said, "India's healthcare industry is today recognised the world over and is poised to represent the country parallel to IT sector. Manipal has strong fundamentals and brand equity in healthcare and we will ride the retailing wave sweeping India for accelerated growth."

Pantaloon has its own concept of health villages providing 2-3 services under a roof.

Manipal would be involved in the serious medicine part of Cure & Care stores there.

Health village

"The Health Village is an entirely new initiative for us and we are privileged to have the best healthcare brand with us," said the Pantaloon Managing Director, Mr Kishore Biyani.

"Healthcare is a very emotional issue for all and getting the right partner for our health village initiative was a challenge."

According to Mr R. Basil, Managing Director & CEO, MHS, "An integrated health system provides better efficiency in healthcare delivery and retailing will play a significant role in future."

More Stories on : Alliances & Joint Ventures | Retailing | Medical Institutions & Hospitals | Health | Healthcare Products | Convergence

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Ashok Leyland to invest Rs 70 cr on R&D units


Work re-starts at Sirpur Paper mill
Proceedings against Lodha, Birla Corp stayed
PTL not averse to Sumitomo's nominee as MD for Swaraj Mazda
Indian Oil raises $370 million
Hindustan Paper pays maiden dividend to Govt
ICSA bags Rs 17.21-cr order
What next for GE Shipping?
Rayalaseema to issue new shares
McDowell okays composite scheme
Ennore Foundries setting up `pattern and tool shop'
Apollo Tyres to set up Rs 520-cr plant near Chennai
Peninsula Land plans major expansion
POSCO reduces land area for steel mill
Tata BlueScope Steel opens facility in Pune
Steel execs to go on indefinite hunger strike over wages
Manipal Health, Pantaloon tie up for retail healthcare
Adecco, Dr Reddy's arm join hands for rural outreach
Reliance Ind sets eyes on Pune for retail venture
Toyota Motor Asia Pacific to control Toyota Kirloskar
Alkem Labs to roll out food products
Raha on 'Energy Executive' award shortlist


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line