Aster Medcity | 6 Million sqft | U/C

[Malayaali]

Olympus Capital invests Rs 5 billion in Indian healthcare firm DM Healthcare

Private equity firm Olympus Capital Holdings Asia Wednesday said it has bought a minority stake in privately-held DM Healthcare Pvt. Ltd. for about $100 million.

Olympus Capital didn’t reveal the size of the stake it has acquired, but it said that it is now DM Healthcare’s largest external investor and that its nominees will join the company’s board.

DM Healthcare, which provides healthcare services in the Gulf Cooperation Council countries, is expanding its presence in India from the current 900 hospital beds. DM Healthcare is setting up a R1500Cr hospital in Kochi, it is also setting up a medical college and a 750 bed hospital at Wayanand. Apart from these greenfield projects, it is also expanding through acquisition. The company has finalised deals in Kolhapur and Pune. It has launched ‘Aster-Eye Care' centre in Faridabad and plans to open 20 centres across the country by 2015.

It owns and operates the largest network of hospitals, clinics and pharmacies in the United Arab Emirates, under the Aster and Medcare brands. It also has operations in Qatar, Oman and Saudi Arabia.

Olympus Capital Holdings Asia bought the DM Healthcare stake through Olympus Capital Asia Investments Ltd.

[Malayaali]

Road work drags on in Cheranellore

An existing bathing ghat being closed by Medicity promoters.

A section of the Cheranellore panchayat residents in the northern fringe of the city, are agitated with the promoters of the over Rs 1000 crore Medicity project coming up on over 50 acres on the banks of a branch of Periyar at Edayakunnam, as the work on the road and drainage has been dragging for the past few months.

Promoters have also failed to keep the promise of constructing a bathing ghat on Kothad river for around 180 families.

The project promoters were forced to take up works at the insistence of the panchayat authorities owing to the flooding caused by the construction of the boundary wall for the project.

Local people say deep trench has been dug on the road for building drainage and telephones cables. Careless digging has damaged the road, so now travel on the road is a nightmare with no tarring done till date.

The people are also agitated over the absence of any bathing ghat in the river which they were using freely till date. “The people have been denied any bathing ghats by the reclamation activities for the project and the boundary wall construction for the same.

This act of the Medicity is a clear violation of the agreement that they entered on May 10, 2011, with the Cheranallore panchayat. People are planning an agitation to get back their right on the river,” said Radhakrishnan, a resident.

When contacted, Alex Mathew, administration manager of the Medicity project, said that they had promised only one bathing ghat which was delivered. “There is now a demand by external elements for an additional bathing ghat which is not justified,” he said. He added that the road works will be completed by April 20 and the delay was caused due to the contractor to whom the project was awarded by the company.

Cheranellore Panchayat president K.K. Suresh said the Medicity promoters have promised to complete the road work by April 20 and the original agreement was for only for building one bathing ghat.

[vjkrishn]

UPDATES

[KMC]

Originally Posted by vjkrishn

UPDATES

[/IMG]

atlast you got it .... where exactly this is coming up , is it having entrance at container terminal road....can you mark it on wikimapia

[e_arunsid]

Fantastic Updates

[Prasanth_KCV]

Excellent updates vjkrishn, is it Amritha Institute of Medical science tower on the right to Aster underconstruction building.

[Cosmicbliss]

Why was the project delayed?

[vjkrishn]

Originally Posted by Cosmicbliss

Why was the project delayed?

http://astermedcity.com/Evolution.aspx
Just check this link

[Malayaali]

Thanks VJ. Exact location please?

[vjkrishn]

Originally Posted by Prasanth_KCV

Excellent updates vjkrishn, is it Amritha Institute of Medical science tower on the right to Aster underconstruction building.

Thanks Prasanth
Yes,that's Amritha Institute of Medical science on the right side of medcity. On the left side you can see Marriott hotel

[Prasanth_KCV]

Originally Posted by vjkrishn

Thanks Prasanth
Yes,that's Amritha Institute of Medical science on the right side of medcity. On the left side you can see Marriott hotel

Thanks for information

[vjkrishn]

Originally Posted by KMC

atlast you got it .... where exactly this is coming up , is it having entrance at container terminal road....can you mark it on wikimapia

There is no direct entrance from the container terminal road. I have marked the route which I took to reach there, in red. About 500mtrs before bridge 2 you have to turn right to enter a road running parallel to the ICTT road. That road will connect you to the road leading to medcity. The condition of the roads are very bad.

[KMC]

Originally Posted by vjkrishn

There is no direct entrance from the container terminal road. I have marked the route which I took to reach there, in red. About 500mtrs before bridge 2 you have to turn right to enter a road running parallel to the ICTT road. That road will connect you to the road leading to medcity. The condition of the roads are very bad.

Thanks for detailed mapping....
Hope the Container terminal road will soon transform into another Bypass like Kundanoor - Edapally stretch.....It has the potential... projects like these will help attracting more projects...

[vjkrishn]

Back side view of Medcity - The structure is really huge

[KMC]

Any updates on apollo hospital??

[vjkrishn]

Don't know where it is located or whether they have been able to identify the land for their project. There were reports saying that they are looking for 5 acres of land inside the city and that they held talks with Le Meridian group for buying their vacant piece of land.

[e_arunsid]

Originally Posted by vjkrishn

Back side view of Medcity - The structure is really huge

Excellent update VJ...

[vjkrishn]

Thanks Arunsid.

[Kochi Resident]

What is the status of this project as of now? I think this is a silent employment creator since Smart city etc looks like screwed up.

I heard that this creates 30 to 40 K direct employment.If that was the case why are we giving too much importance to an IT project like Smart city where nothing is happening.

[KMC]

New website for Aster medcity... going by the video, this looks truly world class... I dont know how affordable for common man...
It look more like five star hotel...

anyways this is sure to be a big boost for Kochi's/kerala's healthcare sector.

http://rainmedia.in/aster/index.php