Wockhardt Hospitals to re-pay Rs 500 cr debt from disinvestment

Wockhardt Hospitals, which is divesting its 8 operating hospital and two on going projects to Fortis Healthcare Ltd for a consideration of Rs 909 crore, is planning to reduce its debt burden by Rs 500 crore and investing remaining funds in new hospitals. The company is setting up new hospital in Juhu, South Mumbai in next 12 to 15 months. Further it is planning to set up new hospitals in Madhya Pradesh, Uttar Pradesh and Bihar. 

By retaining seven of its super speciality hospitals in Rajkot, Surat, Nasik, Nagpur and Hyderabad, Wockhardt Hospitals has a strong presence in the Western part of the country. In addition to these, it has 3 community hospitals in Bhavnagar, Goa and Vashi in Mumbai. 

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