Devaki Hospital Has Ambitious Plans To Expand And Modernise

Hospital will update infrastructure to meet demands of 250-300 cardiac surgeries per annum, reports Jayata Sharma

Dr K C Reddy, Chief Executive, Devaki Hospital

Chennai-based Devaki Hospital is all set to expand and modernise its existing departments like cardiology, urology, nephrology, oncology etc.

For the makeover plans, Devaki Hospital will raise necessary funds by preferential issue of warrants to raise approximately Rs 13 crore over the next 18 months. The plan is to issue 63,20,000 warrants at a price of Rs 10 each and premium of Rs 12.25 each. The promoters share in this will be around 28,10,000 warrants. "Earlier, we had planned to seek venture capital, but now we have this alternative and we find this one better," says Dr K C Reddy, Chief Executive Officer and Chief of the Urology Department, Devaki Hospital, while speaking to Express Healthcare Management.

Future Plans

The existing facilities in cardiology only cater to basic needs. "My plans are to totally update existing infrastructure to meet demands of 250-300 cardiac surgeries per annum," informs Dr Reddy. This will mean updating the operating room, post-operation ward and ICCU and CCU; and starting a dedicated cardiac cath lab.

Other departments to be worked on are the department of nephrology and transplantation, which will acquire currently outsourced dialysis facility and upgrade it into a state-of-the-art facility. "Department of urology is to introduce laser technologies, urodynamics and if funds permit we will acquire an extracorporeal lithotripsy unit too," informs Dr Reddy.

Presently, in the department of imaging sciences, ultrasound and echocardiography are outsourced. Soon these facilities will be provided by the hospital itself. And, chemotherapy will be introduced in the department of oncology. "But, we still have to refer radiotherapy to associated hospitals," adds Dr Reddy.

Why did he think of acquiring stake in Devaki Hospital? "In 2003, at the instance of the late Dr T J Cherian, former Chief Cardiologist at Devaki Hospital, we acquired 10 per cent of the equity. Later in the year, we felt that the company was worth acquiring, despite the very bad management. Hence, we acquired controlling interests through a public offer as per SEBI regulations," Dr Reddy replies. The hospital was started as a private company in 1978 and later went public in 1991.

For two years, the hospital was running in losses and so was in debts amounting to Rs 120 lakh. After taking over the management of the hospital, the new management has been running it smoothly for around 18 months now.

Dr Reddy along with his colleagues Dr C M Thiagarajan, Head of Nephrology Department and Dr Salim Thomas, Head of Oncology Department feels very optimistic about the future of this 100-bed hospital.

Besides above, the hospital intends to refurbish and update all departments and upgrade or replace old equipment to meet present day needs.

Devaki Hospital also runs a nursing school, which has been in existence for the past 14 years and turns out 20 Diploma in Nursing students per year, after a three-year course. To date, the school has achieved 100 per cent results. Currently, it is run on rented premises. "We hope to have our own premises and to introduce improved methods of training, including computerisation," asserts Dr Reddy.

A Dream Yet To Fulfil

After returning from the US in 1971, with the encouragement of his late father-in-law B Nagi Reddy, Dr Reddy built Vijaya Hospital. However, that dream was not to be. Few people are given a second chance. And, Dr Reddy hopes that this time he will be able to fulfill the dream of providing a well-equipped, affordable hospital with competent staff second to none in this country. "I hope that the hospital will take shape on lines of Breach Candy Hospital in Mumbai. That we will be operating from the HQ of India's most celebrated corporate hospital will indeed be a challenge," quipps Dr Reddy.