Indian hospital chains eye overseas expansion | The Daily Star
12:00 AM, August 10, 2010 / LAST MODIFIED: 12:00 AM, August 10, 2010

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Indian hospital chains eye overseas expansion

India's top hospital operators are looking to expand overseas to leverage their strengths in other markets as well as to attract medical tourists, officials and analysts say.
Industry leader Apollo Hospitals is looking for contracts to manage hospitals abroad, while Fortis Healthcare is aggressively looking for acquisitions as an expansion strategy.
However, officials at both companies said they continue to focus on their local expansion plans as well, where the potential continues to remain high.
There is ample growth opportunity in India, which the hospital chains are aggressively tapping, but these companies still need to go overseas to enhance their brand value, which will drive up medical tourism, said Rashesh Shah, an analyst with Mumbai-based brokerage ICICI Securities.
"If Indian firms can buy some good hospital brands overseas, they can easily earn the trust of overseas patients," Shah added.
India's healthcare sector, estimated to touch $14.2 billion by 2012 from $9 billion in 2006, according to a study by consultancy firm KPMG last year, offers huge opportunity although not enough to quench the global ambition of Indian operators.

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