Paras Healthcare to invest Rs 500 crore to add 830 beds in 2019

Paras Healthcare is planning to invest Rs 500 crore to add 830 beds in 2019. The company has hospitals in Gurugram, Patna, Darbhanga, and Panchkula. The multi-specialty hospital in Panchkula is a part of the company’s expansion plan for the year. Paras will also be opening a hospital in Ranchi with 350 beds during the year and will be adding 250 beds in another hospital. The hospital in Ranchi is being set up in partnership with Heavy Engineering Corporation. The expansion is mainly being funded through equity (around Rs 275 crore) which they have raised in July 2017 from private equity firm Creador. The rest would be through debt.