The company intends to develop new medical facilities and acquire 3000 beds in the state over the next five years in Kerala.
KIMS Hospitals, currently has presence in the 5 states of Telangana, Andhra Pradesh, Maharashtra, Kerala and Karnataka with over 16 hospitals and 5000 plus beds.
In a regulatory filing made post market hours today, the company stated that it has already begun operations in Kerala by taking over Sreechand Hospital in Kannur and entering into an O&M contract with Westfort Hospital at Thrissur, where further development work is underway.
Over the next two years, the group plans to establish new hospitals in Kerala developing large health cities in Kochi and Kozhikode, each with 800-bed capacities.
The group’s expansion blueprint includes setting up a fully equipped oncology and transplant centre in Kannur, along with a 350-bed hospital in Thrissur dedicated to advanced transplant services.
In future plans, KIMS intends to acquire hospitals in Calicut and Trivandrum. In the distant future, it plans to explore possibility of opening one hospital in all districts of Kerala. All our units will mostly be asset light model.
Dr Bhaskar Rao, chairman and manging director, KIMS Hospitals said: “Our sole aim is to bring accessible and affordable clinical healthcare services with world-class amenities to the people of Kerala and ensure that no patient in need is deprived of treatment due to financial constraints.
Headquartered in Hyderabad, Krishna Institute of Medical Sciences Limited (KIMS Hospitals) is one of the largest corporate healthcare groups in Telangana and Andhra Pradesh, providing multi-disciplinary integrated healthcare services, with a focus on tertiary and quaternary healthcare at affordable cost.
The hospital chain operator had reported 7.18% increase in consolidated net profit to Rs 86.6 crore in Q1 FY25 from Rs 80.8 crore posted in Q1 FY24. Revenue from operations rose by 13.6% year on year (YoY) to Rs 688.4 crore during the quarter ended June 2024.
The scrip had gained 0.49% to end at Rs 559.30 on the BSE today.