Cytecare Raises Rs 166 Crore from HNIS for Bengaluru Facility
BENGALURU: Cancer care hospital Cytecare has raised Rs 165 crore from High Networth Individuals (HNI) to set up its first facility in Bengaluru. The 150-bed facility built at the cost of Rs 70 crore will provide end-to-end treatment to cancer patients through a hub and spoke model starting with the state of Karnataka.
“We will be creating sub-centres around Bengaluru at an investment of upto Rs 1 crore each where patients can carry on with the follow-up treatment and care as a daycare facility. We will also create other hospital hubs in two other cities which we are currently evaluating,” said Ferzaan Engineer, co-founder and chairman of Cytecare.
The 160,000 square feet hospital will be operation in September and will achieve break-even over three years. “The facility will focus on organ-specific specialization and we have seven such verticals,” said Suresh Ramu, CEO of Cytecare.
The hospital chain will provide facilities including diagnosis, personalized treatment, chemotherapy, radiology, cancer counselling, pain management and palliative care among other facilities. The four anchor investors in Cytecare are a part of the executive leadership.
The company has also been looking for an institutional round to fund its expansion going ahead.