Virinchi Healthcare setting up 300-cr hospital in Hyderabad

Hyderabad: Virinchi Healthcare Private Limited, a wholly-owned subsidiary of city-based IT products and services provider Virinchi Limited, is setting up its first super specialty hospital with an investment outlay of Rs 300 crore at Banjara Hills in Hyderabad.

The 600-bed hospital is being funded through internal accruals and a Rs 70-crore bank loan extended by a consortium of banks led by Canara Bank. While the first phase, involving 350 beds, will be completed by the end of July, the entire hospital will be up and running in nine months from now,” Srinivas Myana, Executive Director (finance and regulatory affairs) of Virinchi, told The Hans India.

Spread over an area of 350,000 sft across four inter-connected buildings, the hospital will focus on CONNECT (cardiac, ortho, nephro, neuro, emergency, cancer and transplantation).

Once fully completed, it will have 75 doctors and around 1,000 support and paramedical staff on its rolls, he added.
Virinchi Limited had, in February this year, merged with itself Bristlecone Hospitals, a chain of surgical specialty hospitals with an aggregate bed capacity of 200 operating at Barkatpura and Hayathnagar in Hyderabad.

While the Barkatpura and Hayathnagar hospitals will operate with a hub-and-spoke approach, the new Banjara Hills hospital will act as a tertiary centre offering a broad range of specialist services,” Myana said.

Claiming that Virinchi Healthcare has come up with the country’s first enterprise-wide mobile app that enables each patient to have the complete medical history of every test and hospitalisation record on the cloud as well as on the mobile for the entire life time, which the patient can zip and instantly forward to any doctor for a second opinion, he said the mobile app would enable mobile-based video consultation, thereby obviating the need to revisit the hospital.

Replying to a query, Myana said the company’s initial focus was on strengthening the existing chain of hospitals in Hyderabad. We will look beyond Hyderabad and expand to other districts in Telangana and Andhra Pradesh sometime during next year,” he said.

Virinchi Limited, which offers software services to the retail micro-lending industry in the US and healthcare IT and healthcare consulting services in India, reported a topline of Rs 218 crore in the 2015-16 financial year. The company’s scrip ended the trade at Rs 55.50 on the BSE on Wednesday, up 2.78 per cent, over the previous close of Rs 54 apiece.