Park Medi World inks agreement to operate and manage a 300-bed hospital in Kanpur

Park Medi World said that it has entered into a long-term operations and management (O&M) arrangement to operate and manage a 300-bed multi-super speciality hospital in Kanpur, Uttar Pradesh.

The facility, which is an established hospital, will be renovated and re-equipped and will be commissioned by the end of the current financial year, to be operated under the arrangement for a term of 28 years.

Under the O&M model, Park Group will assume complete operation and management of the hospital on an asset-light basis. This involves investing in renovation, modernisation and medical equipment, and operating the facility under a long-term arrangement without an upfront acquisition of land or building.

This capital efficient structure allows the Group to add operational bed capacity rapidly at a fraction of the capital required for an owned or a greenfield facility.

The 300-bed facility, spread over approximately 1.2 lakh square feet of covered area, will be brought up to Park Group's clinical and infrastructure standards ahead of commissioning, and will offer a comprehensive range of multi-super speciality services to Kanpur and its surrounding catchment.