Be Well Hospital to launch second round of funding

By IVCPOST Staff Reporter

Aug 02, 2013 05:02 AM EDT

Be Well Hospitals, a venture capital-funded healthcare enterprise, revealed that it decided to take its asset-light healthcare business model across the India. The Chennai-based chain said it would be able to do so by going for a second round of funding. The secondary-care healthcare chain plans to expand its network to around 50 hospitals throughout the nation. Details of the funding round, however, are not yet known.

Be Well Hospitals had previously raised INR20 crore from Song Investments, a Mauritius-based investment firm, to construct five hospitals last year. Be Well Hospitals said it will be adding two more hospitals this year.

CJ Vetrivel, an orthopaedic surgeon, is the firm's managing director and acts as promoter as well. He explained, "For the second phase of expansion, we will be raising another INR50 crore next year. With this investment, we will add 10 more hospitals. A network of 50 hospitals will need a total investment of INR200 crore and after the second- round funding, we would be accruing cash that can be used thereafter for investment purposes."

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