UAE-based VPS Healthcare acquires majority stake in Lakeshore Hospital

Tuesday, Apr 19, 2016,12:49 IST By metrovaartha A A A

Kochi | UAE-based VPS Healthcare has acquired majority stake in the 350-bedded Lakeshore Hospital and Research Center, one of the largest tertiary level super speciality hospitals in Kochi.

In a press release, VPS Healthcare Managing Director Shamsheer Vayalil said the acquisition is a part of the group’s expansion plans for the subcontinent in the next five years.

Vayalil has also taken over as the Chairman and Managing Director of the hospital, which has been renamed as VPS Lakeshore since the acquisition.

The group, however, did not reveal much about the deals.

Part of the new two lakh square feet block, with an investment of around Rs 300 crore, will be operational shortly, Vayalil said. Rs 1,000 crore has been allocated during the first phase of the group’s expansion plan in India, he added.