Vatika Group to invest Rs 200 crore on healthcare sector expansion

Diversified group Vatika on Friday announced its foray into the healthcare sector with plans to invest Rs 200 crore to open about 15 diagnostics laboratories over the next two years.

New Delhi: Diversified group Vatika on Friday announced its foray into the healthcare sector with plans to invest Rs 200 crore to open about 15 diagnostics laboratories over the next two years.

The group has acquired diagnostic labs Health Square from Spry Hospitality, including two centres, for Rs 30 crore and has been rebranded as Vatika Medicare as part of its expansion in the healthcare sector.

"We are ready to roll out our healthcare expansion and the plan is to open about 15 centres under Vatika Medicare, mostly in the metro cities. This will entail an investment of about Rs 200 crore," Vatika Group President Vineet Taing told PTI.

Initially, he said, the company will expand in Delhi NCR, where two diagnostics centres are already functional at Hauz Khas in South Delhi and Gurgaon.

"After that, we will look to expand in other metros, including Bangalore and Mumbai," he added.

Apart from real estate and education among others, the Vatika group has also presence in hospitality and owns properties of Starwood's Westin hotels in Gurgaon and Sohna with Jaipur and Pondicherry properties under active planning.

"Healthcare is an upcoming industry, poised to benefit from the on-going trend of economic development over the long term. Vatika Medicare marks our entry into the healthcare sector..," Vatika Hotels Managing Director Gaurav Bhalla said in a statement.

Vatika Medicare will offer a "one-stop shop", for all radiology, pathology, cardiac, dental and neuro lab needs, the company said.

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