Advet Bhambhani Ventures (ABV), a Dubai-based healthcare service provider, plans to establish India first “luxury” hospital chain. Live Mint reports that Advet Bhambhani, CEO of the ABV Group said, “ABV is looking at an investment of at least $64 million for facilities at multiple locations in the country and will have its first hospital in Mumbai.”
There is a demand for luxury hospitals in the country that will provide superior quality of services and treatment among the rich and the ultra-rich who otherwise prefer to go Singapore or U.S., and to address this requirement ABV will set up all-suite hospitals in India’s metros and some other cities. India’s private healthcare market is dominated by corporate hospital chains such as Apollo Hospitals, Fortis Healthcare, Max Healthcare Ltd., and Wockhardt Hospitals Ltd., which have been raising their market share. Two non-resident Indian groups —Dubai-based Aster DM Healthcare Llc., and Abu Dhabi-based NMC Healthcare have already established a presence in the country.
