CDC and Abraaj invest in Rainbow Hospitals

By Marc Castro

Aug 13, 2013 12:12 PM EDT

The development finance institution of the UK, CDC together with the Abraaj Group, one of the foremost investors participating in growth markets worldwide, have announced their financial investment in the Rainbow Hospitals group. The firm operates a pediatric and maternity healthcare facility located in the southern part of the India's Andhra Pradesh state.

This investment is CDC very first one in India since it had unveiled its plan in 2012. This investment would also serve to upgrade the long standing partnerships that Abraaj had established in healthcare institutions through the South Asia region. 

The investment was welcomed by the Rainbow Hospital's Chairman and Managing Director, Dr. Ramesh Kancharta. He said, "This investment lets us expand and develop our high-quality medical facilities, allowing us to replicate the successful pioneering model across the country, including in cities such as Bangalore, Chennai and Pune. In parallel, we would also like to develop tertiary paediatric care in tier two cities like Vizag and Kurnool. The current investment would give us the capacity to expand the number of beds available to patients from the current level of 450+ to close to 1000 by 2017." 

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