The hospitals are to be built on 250,000 sq.m. of land at an investment of $230 million over several years.
Elbit Medical Imaging (Nasdaq: EMITF; TASE: EMIT), controlled by Moredchai Zisser, and Indian real estate development group Ambuja Realty Group, controlled by the Neotia family, announced yesterday the establishment of a joint venture for the construction of a network of specialist hospitals. The hospitals are to be built on 250,000 sq.m. of land at an investment of $230 million over several years.
Several of the hospitals are likely to be located in key cities in India. The first of these, called the Neotia Elbit Health City will be located in Calcutta. It will have 1,000 beds and a biotechnology research center. The other hospitals in the network will also have biotechnology centers, as well as accommodation for patients’ families, and shopping centers. The project will also include an alternative health center and a nursing school.
Elbit Medical began operating in India last year and has already finalized three other local real estate projects, two of which are located in Poona and the third in Cochin. All three will be constructed together with local partners.
Published by Globes [online], Israel business news - www.globes.co.il - on December 11, 2006
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