Nawaloka to set up peripheral hospitals

1 July 2013 09:49 am Views - 3231

In a bid to expand healthcare facilities, Nawaloka Hospitals PLC (NHL) will be investing Rs.575 million on setting up a chain of peripheral hospitals, starting from a hospital in Negombo, a stock market filing stated.

Accordingly, each regional hospital will provide all diagnostic facilities with 50 to 70 patient rooms for indoor patient admissions.

The ownership of the hospital will be by way of fully-owned Nawaloka Hospitals subsidiary, called Nawaloka Medicare (Pvt) Ltd.

The first of such hospitals is said to be situated closer to the Negombo General hospital, on the Colombo-Negombo main road. According to the stock market filing, the project will be financed by banks.

For the year ended March 31, 2013 NHL posted a net profit of Rs.604.4 million as against Rs.270.7 million in the previous year.

Earnings per Share during the year under review stood at 32 cents in contrast to 19 cents during 2012.

Revenue during 2013 increased 14 percent year-on-year to Rs.4.2 billion.

( KP)