A commitment to elevating healthcare standards
Dear Shareholders,
I am pleased to present our Company's Annual Report for FY 2023-24.
This year has reinforced our commitment to elevating healthcare standards and expanding
accessibility across India, strengthening our reputation as a trusted healthcare provider.
Our consistent performance is a testament to our shared vision and the dedication of our
team.
The impact we have made this year is truly profound, with over 2.6
millions outpatients and more than 1.5 lakh inpatients receiving care rooted in compassion
and excellence. Our super-specialised clinical teams have achieved positive outcomes in
complex cases across various specialities. Moreover, our successful implementation of
cutting-edge treatments has further solidified our leadership in the healthcare industry.
During the year, Medanta Gurugram was recognised as the Best Private
Hospital in India for the fifth consecutive year by Newsweek and our distinction as the
only Indian private hospital to be featured among the top 200 hospitals globally
underscores our relentless pursuit of excellence. This recognition not only fills us with
pride but also sets us apart as a beacon of quality in healthcare.
Scaling Healthcare Accessibility
Medanta was conceptualised with a vision to bring highest end of
tertiary and quaternary care across all specialities under one roof. In 2009, we realised
this vision by setting up Medanta, The Medicity as a destination care hospital with over
1,400 bed capacity and 40 operating theatres. Today, it stands as one of India's largest
private hospitals at a single location, setting a benchmark in comprehensive healthcare
delivery.
In 2019, we took a significant step forward by replicating our
large-scale hospital format in Lucknow, Uttar Pradesh, with a facility designed to house
~1,000 beds, and currently operational with ~700 beds as of FY 2023-24. Uttar Pradesh,
with a population exceeding 250 millions, is India's most populous state, and the
establishment of such a large facility in its capital was driven by our commitment to
bring quality healthcare to both the city's residents and the densely populated
neighbouring regions. We have continued to focus on tertiary and quaternary care and have
successfully completed over 200 kidney transplants, 40 liver transplants and 33 bone
marrow transplants since inception, one of the highest in the state.
Continuing our commitment to expanding quality healthcare in
underserved regions, we built a ~650-bed hospital in Patna, Bihar, under a Public Private
Partnership with the Government of Bihar, commencing operations in 2022. Spanning across a
campus of 1 million square feet, Medanta Patna is equipped to address a diverse range of
medical needs, ensuring that patients receive specialised treatment under one roof. With
over 200 experienced doctors, 358 beds, a workforce of 1,500+, and 25+ super- specialists,
this facility exemplifies our dedication to excellence in healthcare delivery, even in the
tier II or III regions.
India, home to 1.4 billion people, faces a significant shortage of
high-quality medical facilities, particularly in tertiary and quaternary care, outside the
major metropolitan areas. Recognising this critical gap, Medanta launched an tele-ICU
programme in Lucknow last year to bridge the gap in critical care across tier II and tier
III cities, which often lack intensivists and speciality care treatment.
In FY 2023-24, our tele-ICU team remotely handled over 400 patients,
ensuring real-time 24x7 support, and saving many lives through timely intervention. We are
determined to leverage this technology to revolutionise healthcare access across India.
Our guiding principle is clear: the quality of care should not differ
based on location. Throughout the year, we have been focussed in implementing the 'Medanta
model of care‘ across our network of hospitals. Moreover, our patient-first value,
coupled with a collaborative doctor-led model, ensure that we deliver the best possible
treatment in line with our philosophy, ‘Har Ek Jaan Anmol', which means every life is
invaluable.
Advancing Clinical Capabilities
Throughout the year, we continued to make advancement in adopting the
latest technology and delivering customised best-in-class treatment to our patients. Our
doctors have been at the forefront of pioneering non-invasive mitral valve repair
technology, marking a significant milestone in the field of structural heart procedures
and elevating cardiac care in India to global standards. With Medanta now at the
cutting-edge of all structural heart procedures, including Transcatheter Aortic Valve
Implantation (TAVI ) and other complex interventions, we are firmly positioned as leaders
in this domain. We have also made strides in robotic surgery, routinely performing these
procedures to ensure minimal intervention for the patient with increased safety.
Our dedication to excellence was exemplified by the Medanta Gurugram
lung transplant team, which undertook a remarkable 1,200 km journey from Delhi to
Junagadh, Gujarat, to facilitate a life- saving organ donation and transplantation. This
success was a testament to our multidisciplinary approach, meticulous logistical planning,
and commitment to ensuring that no potential organ goes to waste.
Additionally, our Gurugram hospital became the first in India to
utilise the advanced AI- enabled Penumbra Lightning technology for treating pulmonary
embolism, a breakthrough that significantly reduces the risks associated with traditional
surgery. We further extended our impact through the Bharat programme, which aims to raise
awareness about pulmonary embolism and share critical knowledge globally.
During the year, Medanta expanded its Comprehensive Cancer Care
Programme with the installation and operationalisation of India's First Varian Edge
Machine in North India at its Lucknow and Patna hospitals. This cutting-edge technology,
which enables sub-millimetre precision in radiation therapy, is set to revolutionise
cancer treatment in Uttar Pradesh and Bihar. Medanta's collaborative team-based approach
brings together doctors from all specialities to systematically assess each patient and
curate an individualised, evidence- based treatment plan and provide round-the-clock
specialised care for critically ill patients.
Sustainability at the Heart
At Medanta, our commitment to sustainable growth is not just a
responsibility but a core aspect of our mission to provide the highest standard of
healthcare. Sustainability is intrinsically linked to our prioritisation and integration
of environmental, social, and governance (ESG) practices across every aspect of our
operations. This dedication to environmental stewardship is evident in the state-
of-the-art infrastructure and patient-centric design of our greenfield hospitals. Each of
these facilities is designed to optimise natural light, which not only reduces electricity
consumption but also enhances patient recovery outcomes. Our upcoming hospital
in Noida has already received pre-certification as a Green Building
under the IGBC Green Healthcare Facilities Rating System by the CII-Indian Green Building
Council.
At Medanta, we take pride in the fact that 50% of our workforce is
female, including over 600 female doctors, underscoring our commitment to fostering a
diverse and inclusive workplace. We promote a culture of transparency and openness,
ensuring our patients are fully informed about their treatment options, associated costs,
and post-operative care. Our infrastructure is specially designed to maximise our patient
and their family's comfort, safety and treatment efficiency.
From community care perspective, In FY 2023-24, we introduced the
SAVERA initiative in Gurugram, which offers Tactile Breast Examination (TBE) to facilitate
the early detection of breast cancer. TBE is an innovative method of screening for breast
cancer in which the highly developed tactile sense of visually impaired women is used to
identify even the minutest of abnormalities in the breasts. With the rise in
advanced-stage breast cancer cases, early detection, diagnosis, and treatment have become
more crucial than ever. At Medanta, we believe in empowering our patients to proactively
manage their health, and the SAVERA programme is a significant step in this direction,
providing the community with essential early detection tools.
Furthermore, Medanta's commitment to healthcare extends well beyond the
confines of our hospitals. We are actively engaged in community welfare through
initiatives aimed at raising awareness, promoting health education, and improving access
to essential healthcare services. During the year, Medanta, in partnership with the Uttar
Pradesh Government, launched the 'TB Free Uttar Pradesh' initiative, which aims to
eliminate tuberculosis in the state. This initiative aligns our ongoing 'Medanta's Mission
TB-Free' programme, launched in collaboration with the Government of Haryana
in 2015. Additionally, we continue to lead various awareness campaigns
focussed on disease prevention and promoting healthy living.
Impact Focussed Growth
India's healthcare ecosystem has evolved significantly in last decade,
however, there is still a long headway ahead. The changing lifestyles and an ageing
population with nearly 200 millions elderly individuals expected by 2030 are driving the
prevalence of chronic diseases. Alongside this, the rising per capita income, higher
insurance penetration, conducive government policies and increased budgetary allocation
and a surge in medical tourism, driving the demand for quality healthcare.
The confluence of these factors will necessitate a significant ramp-up
in the delivery ecosystem to ensure quality healthcare is accessible to a wider set of
patients nationwide. The private sector especially will be looked upon to play a
transformative role in this.
At Medanta, we are determined to play our part in this growth journey.
With strong foundation of our network of hospitals and our 'Medanta Model of Care', we
stand ready to consistently deliver highest standard of care across all the regions where
we operate.
We have a phase wise bed addition planned in the coming years. In FY
2024-25, we have a plan to add 150 beds at Patna and 50 beds in Lucknow taking bed
capacity to ~450 beds and ~750 beds at respective locations. In addition, the construction
of our 550 beds Noida hospital is in full swing and we expect to operationalise the asset
with 300 beds by the end of FY 2024-25 or first quarter of next fiscal year. Noida in
itself is an attractive market with massive infrastructure development and lack of
corporate hospital. We are hopeful that Medanta Noida once operational will cater to the
healthcare needs of Noida, Greater Noida and can serve western Uttar Pradesh districts as
well due to seamless road connectivity.
During the year, we have entered into a partnership with DLF Limited to
build and operate 400-bed super-speciality hospital in South Delhi. The hospital will
offer cutting-edge medical and surgical interventions in over 20 specialities, including a
comprehensive cancer care unit. Once operational, this facility will help us leverage our
strength of the Gurugram, South Delhi and Noida facilities in catering to the entire NCR
region.
Furthermore, I am extremely pleased to share with you that the company
has acquired 2.2 acres of prime land in Mumbai Oshiwara in auction from MHADA authorities
in August 2024. This is an important milestone in Medanta's growth journey, as we plan to
establish a state-of-the-art 500-bed super speciality hospital in Oshiwara. We are
delighted with the prospect to bring Medanta model of care to Mumbai and provide
world-class medical services to the residents of Mumbai and surrounding regions.
We are also expanding our clinical team and enhancing clinical
capabilities across network of hospitals. Our constant endeavour is to make difference in
people's lives by introducing new technology and treatment and by delivering highest
standard of clinical care. Overall, our expansion is well-aligned with our strategy to
enhance healthcare accessibility in both high-demand and underserved regions and our
journey is continuing.
I would like to reiterate our commitment to building a long-term
sustainable business model as reflected in our calibrated growth strategy. The future
ahead is bright and we remain resolute in our focus on executing our strategic priorities
while exploring newer opportunities. I extend my deepest gratitude to all stakeholders for
their trust and support. Looking ahead, Medanta will continue to reinforce its leadership
in the healthcare sector. Every life saved, every breakthrough achieved, and every
community touched is a step towards our vision of a healthier country.
Thank you,
Dr. Naresh Trehan
Chairman & Managing Director