Kovai Medical Center and Hospital Ltd (KMCH) has made two strategic announcements to strengthen its healthcare facilities. The board of the company has sanctioned a lease agreement with MTL Instruments and approved the acquisition of 1.11 acres of land and building up to ₹600 million.
Important points:
Lease agreement with MTL Instruments for unspecified facilities
Land and building purchase worth up to ₹600 million (about $7.2 million)
Expansion is as per the growth plan of KMCH in the healthcare business
Such moves are in line with KMCH's mission to upgrade its medical facilities and services. The lease deal with MTL Instruments is probably for medical instruments or technology instrumental in delivering high-level healthcare services.
The massive land purchase indicates the expansion plans for KMCH in the future, which could also include new special medical centers or an addition in bed capacity. This action occurs while the health sector in India keeps growing well and more and more people seeking quality medical treatment.
Sources: Kovai Medical Center and Hospital Ltd BSE Filings, March 18, 202