As it forays into healthcare and jewellery segments, Manappuram Group wants to differentiate itself in as an affordable hospital chain as it wants to have its presence in the multi-specialty, dental care and medical diagnostics segments.The company will soon open its first multi-specialty hospital in Kochi. “We want to differentiate ourselves from top hospital chains by positioning ourselves in the affordable segment. Most of the large chains cater to the upper middle class, but we will target the middle class as well as the poorer segment,” said VP Nandakumar, chairman of Manappuram Group.
“With minimal invasive surgeries, hospital costs can be brought down drastically. Even in some of the cardiac surgeries, it is possible for the patient to get the surgery done and leave in one day. If he is allowed to recuperate at home, hospital expenses can be brought down by 25 per cent. We are thinking on similar ways to make healthcare affordable to the masses without compromising on quality,” he said. Manappuram Health Care, branded as MAcare, will invest around Rs 1,500 crore in five years on multi-specialty hospitals, dental centres and diagnostic centres. This will be funded partly by equity from the promoters and partly by debt.
In the jewellery segment, the group plans to open 15 more stores this financial year. Till now it has invested Rs 300 crore on 15 stores in all four southern states. For the new stores, Manappuram will invest Rs 200 crore more. For this, the company would explore private equity funding as well.
“The 15 stores will strengthen Manappuram’s presence in existing markets. In the jewellery segment too, we would be a mass market brand, selling predominantly gold jewellery, without focusing much on diamond or platinum,” he said. Manappuram Jewelery will be competing with traditional jewelers in each locality, educating and upgrading customers to hallmarked gold.
At present, most large jewellery chains, except for Tata’s Gold Plus, are positioned in the premium jewellery segment. The premium segment also focuses on branded jewellery, diamonds and platimum.
As reported in: http://www.mydigitalfc.com/news/manappuram-invest-rs-1500-cr-healthcare-biz-128