Hospital chain Krishna Institute of Medical Sciences Ltd (KIMS) on Sunday (November 1) said it has expanded the bed capacity of its KIMS Saveera Hospital in Anantapur, Andhra Pradesh, from 250 to 500 beds, with the newly added facilities being inaugurated today.
The expansion is being undertaken by Saveera Institute of Medical Sciences Private Limited, a subsidiary of KIMS that operates the hospital under the brand name KIMS Saveera Hospital.
The new facilities include a dedicated Oncology Block equipped with a High Definition Linear Accelerator (HD-LINAC), Digital Positron Emission Tomography-Computed Tomography (PET-CT), brachytherapy and other diagnostic and treatment infrastructure.
ALSO READ | KIMS Q1 profit falls 47% despite 35% revenue growth; bed capacity expands
The expansion also includes a dedicated Mother and Child Block, supported by specialised neonatal intensive care facilities, to provide maternal, newborn and paediatric healthcare services.
The company said the expanded infrastructure will strengthen its healthcare facilities and improve access to advanced tertiary and quaternary healthcare services across the Rayalaseema region of Andhra Pradesh. The expansion will also broaden the hospital’s specialised healthcare services and clinical capabilities in the region.
Last month, Krishna Institute of Medical Sciences Ltd said it had entered into an Operations and Management (O&M) Agreement with Sarvottam Health Care Private Ltd (SHPL) to exclusively manage, operate, direct and control its hospital in Kakinada, Andhra Pradesh.
ALSO READ | This hospital stock could hit ₹1,000 over the next 12 months, Investec predicts with a ‘buy’ rating
Under the agreement, KIMS will receive a revenue fee of 9% of the hospital’s net revenue. Net revenue is defined as gross revenue billed to patients after deducting concessions and discounts offered to patients. The agreement is for an initial term of five years, with an option to extend it for a further five years.
Sarvottam Health Care Private Hospital is operating under the brand name Trust Multi Speciality Hospital and currently has an installed capacity of 183 beds. The hospital began operations in 2010 with 50 beds and commissioned an additional 183 beds after inaugurating a new hospital building in 2021.
Under the Operations and Management agreement, KIMS will have exclusive supervision and control of the hospital and will be solely responsible for its proper operation and management. It will also provide or facilitate the provision of medical services covered under the agreement.
ALSO READ | KIMS Hospitals to cut debt by ₹1,000 crore using promoter funding and QIP proceeds
The hospital is spread across a built-up area of approximately 9,847.23 square metres on company-owned land measuring 3,001.36 square yards. KIMS said the agreement will enable Sarvottam Health Care Private to benefit from its management expertise, while expanding KIMS’ presence in Andhra Pradesh.
Shares of Krishna Institute of Medical Sciences Ltd ended at ₹705.00, up by ₹2.55, or 0.36%, on the BSE.