Health 360°, the healthcare division of Global 360°, has signed an Investment Agreement with the Indian public entity Andhra Pradesh Medtech Zone Limited (AMTZ), a medical technology research and manufacturing hub. This milestone marks a strategic partnership to develop and build healthcare facilities in Visakhapatnam equipped with world-class facilities and life-saving medical equipment to be provided by AMTZ.
Dr Guru Yajaman says, "We are honoured to have AMTZ onboard for this collaboration as we see a valued partner in them being one of the leading medical technology manufacturers in the world".
The first in a series of healthcare projects in the pipeline is a 200-bedded Greenfield Hospital built in two stages, each with 100 beds. Construction started on March 25, 2023 and is earmarked for completion in late 2023. The hospital will cater a wide and diverse range of medical specialties and procedures.
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The master plan includes 200 beds over 189,000 square feet and will cater to a broad and diverse range of medical specialties and procedures. The project will be delivered across two stages, with the first stage on track to reach completion by September 2023.
Due to the hospital's location and strategic collaboration with AMTZ, it will utilise medical equipment produced locally within the AMTZ campus.
Dr Jitendra Sharma, Managing Director & CEO of AMTZ, said "We are thrilled to announce that AMTZ is committed to working Health 360 Degrees to revolutionise the healthcare industry. This partnership marks the beginning of a new era in the democratisation of medical technology. This would be India's first hospital to operate using ONLY Made in India medical equipment.
The vision of the Health 360° Hospital Vizag campus is to serve as an industry-leading model, showcasing the very best of locally produced indigenous medical equipment, novel technologies, and world-leading healthcare practices – all while reducing healthcare costs and increasing accessibility for India's vulnerable populations. This directly aligns with the development goals of NITI AYOG and The World Health Organization.
The hospital will showcase world-class facilities, practices, and technologies such as regenerative medicine, artificial intelligence, digital health and leveraging technology in addition to traditional facilities, diagnostics, allied health and support services.
This healthcare platform will be the centre point of an integrated local healthcare ecosystem, connecting primary, secondary and tertiary care, and serve as a working example of an aspirational pan-India healthcare model.
Dr Guru Yajaman, "This is a massive initiative that is very close to our hearts and consistent with our mission to deliver seamless healthcare experience to the people of India. At Health 360°, our ultimate goal is to make quality healthcare readily accessible and affordable – and this is achievable through transformational health ecosystems".
While India's healthcare sector has made enormous strides over the years – growing at a compounded annual growth rate (CAGR) of around 22% – it is currently in a transitional stage.
There is a growing demand for specialised care services and quality healthcare across the spectrum as an ageing population increasingly favours preventative healthcare. COVID-19 is likely to have influenced attitudes towards personal health and health awareness, emphasising the pressing need for healthcare facilities.
Meanwhile, many of the population can still not access adequate healthcare due to financial or availability hurdles.
Health 360° is on a mission to address these systemic issues, with Dr Guru Yajaman saying, "We intend to implement a self-sustainable, commercially viable and scalable model on a 70-30 basis where at least 30 per cent of our patient base below the poverty line will get affordable care".
The completion of this hospital is the first of many Health 360° projects envisioned in India, with Dr Guru Yajaman stating that "The next step is to establish 8 to 10 primary healthcare centres within the catchment area of Health 360° AMTZ campus hospital to enable a hub and spoke model".
The company also plans to replicate this model in other states, beginning with Karnataka and looks forward to improving the overall quality of healthcare in India.
With these projects completed, we are on right on track with our plans to set up similar models in Tier II and III cities across India where healthcare infrastructure is urgently needed," MR Ramana added.