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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Hemas buys land for Rs. 250 m for next hospital in Ratmalana

Hemas buys land for Rs. 250 m for next hospital in Ratmalana

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CSE.SAS

CSE.SAS
Global Moderator
As part of its expansion to provide world class but affordable healthcare, Hemas Hospitals has invested Rs. 250 million in buying land for a facility at Ratmalana whilst its third at Thalawathugoda is slated for opening in May.

Hemas Hospitals Chairman Murtaza Esufally said yesterday that having already spent over Rs. 4 billion on the three hospitals, an acre of land has been brought for Rs. 250 million near Ratmalana.
While the management is still in the process of reviewing the next project, he said Hemas Hospitals as a group hopes to have about 600 hospital beds by 2020.

The latest facility, located close to the Thalawathugoda junction, is built with an investment of Rs. 1.4 billion.

The multi-specialty patient care building, which is 62,000 sqft, will be equipped with state-of-the-art facilities and feature modern operating theatres, delivery rooms with neonatal care, an intensive care unit, 24 hour emergency care unit, and high-tech 24 hour laboratory with the latest sophisticated MRI and CT scanners. Equipments for endoscopy, colonoscopy, and laparoscopic surgeries are also available in the new facility.

With two of its hospitals already in function in Galle and Wattala, Esufally said Thalawathugoda was selected as the next region to explore as a market research conducted by the company showed the need for a well-equipped hospital in the area.

With the aim of increasing access to health care services in Sri Lanka, “we want to cater to the convenience of the people,” he said. He added that those residing in and around Thalawathugoda need not take the trouble of travelling to Colombo to get world-class medical treatments and services once the hospital commences operations.

With a vision of becoming the leader in the healthcare sector, the hospital has its very own training centre for nurses.

http://www.ft.lk/2013/03/20/hemas-buys-land-for-rs-250-m-for-next-hospital-in-ratmalana/

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Why not the abandoned building next to Dehiwala station?

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@rainmaker wrote:Why not the abandoned building next to Dehiwala station?

maybe bcos the trains will disturb the patients !

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hey it's got clearance to be a hospital!
Harcourts started painting it after a visit from the boss

CSE.SAS

CSE.SAS
Global Moderator
Hemas Hospitals Private Limited, the fully owned subsidiary of Hemas Holding PLC sending a strong signal to sector rivals yesterday revealed plans to construct its next hospital in Ratmalana, taking into account the area’s growing middle class. This will take the total number of Hemas hospitals to four.

Responding to a question by Mirror Business on future plans, Chairman Murtaza Esufally said they had recently purchased one acre of land to the value of Rs.250 million in an area between Ratmalana and Moratuwa for this purpose.

“In fact we see a vast potential in this particular area and a survey carried out prior to the decision too showed the growing middle income earning population which warrants quality healthcare facilities in Ratmalana,” he said.

Speaking on the investment of the project he noted that it will be around US $ 10 million (Rs. 1.3 billion) for a typical 60-bed hospital similar to the one being constructed at Thalawatugoda.

In another interesting revelation, it was indicated that it takes at least 7-8 years to recover the initial investment which is usually referred to as the payback period in Finance. Esufally who was tight lipped on the financial performance (as it is unlisted) however said that Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA), a financial performance yardstick in the hospital sector had been positive throughout.

Hemas Hospitals spent US $ 1.6 million for the 100-bed facility located at Wattala four years ago, followed by another US $ 500 million for the 50-bed Galle hospital and another US $ 1.4 billion for Thalawatugoda facility. Mirror Business exclusive reported on Hemas’ plans to put up hospitals in Thalawatugoda and Ratmalana back in January 2011 even before the start of the two projects.

Ambitious Esufally confided that the company’s plans were afoot to add another 600 beds (about 10 hospitals) touching at least one quarter of the populations’ lives within the next eight years. Esufally who did not rule out the possible expansion in the heart of Colombo said the company’s main strategy was to target the middle income earning category particularly in the suburbs. “Leveraging the four year experience in hospital business, 65 years heritage & the market leadership in the pharmaceutical industry (with a market share of 17-18 percent), we are quite confident that we could in the long run become the market leader in the healthcare sector,” he remarked. Nine months results to December 31 showed the healthcare sector contributing to the group with the highest revenue of Rs. 6.7 billion demonstrating a Year-on-Year growth of 22 percent. The sector bottom line too grew by 33 percent over the same period last year to Rs. 360 million.

http://www.dailymirror.lk/business/other/26928-hemas-secures-land-in-ratmalana-for-fourth-hospital-.html

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