Lates News Updates

May 20, 2007

Telemedicine facility in Devaki hospital

Chennai:Devaki Hospital Ltd plans to set up a telemedicine facility, introduce new lines of treatment and modernise and upgrade existing facilities.Mr A.N. Radhakrishnan, who took over recently as Chairman, Devaki Hospital, said the management is carrying out a feasibility study covering these projects and is likely to come out with a report in three months. "Only after that can we decide on the investment in these projects," he said. The hospital is unlikely to opt for a public issue or bring in more partners to fund these projects.

Mr Radhakrishnan, who holds a 46 per cent stake in Devaki Hospitals, in September 2006 bought a 24.33 per cent stake from the then promoters, Madras Medical Care and Health Centre Pvt Ltd, for Rs 3.27 crore at Rs 18 a share. He acquired an additional 11.34 per cent stake through an open offer, besides open market purchases and block deals.A new management team led by Mr Radhakrishnan was put in place this month.

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