Global Health Ltd, which operates hospitals under the Medanta brand, has approved an investment of up to ₹550 crore to establish a 400-bed multi-speciality hospital in Varanasi, Uttar Pradesh. According to reports from CNBC TV18, the company's board has cleared the execution of a build-to-suit and lease agreement with Shripal Hospitality LLP and others for developing the hospital infrastructure, while Global Health will invest in medical equipment, interiors and related facilities.
The proposed hospital will be developed in central Varanasi and is expected to cater to a large population base in the city and adjoining regions, where access to advanced tertiary care remains limited. As reported by CNBC TV18, the project is expected to be completed over a period of around four years, subject to statutory approvals. The expansion is aimed at strengthening the company's presence in Uttar Pradesh, where it already operates hospitals in Lucknow and Noida.
Global Health stated that the new facility will help bridge the gap in access to high-quality healthcare in eastern Uttar Pradesh, where patients often travel outside the region for specialized treatment. According to CNBC TV18, the company emphasized that this initiative addresses the rising demand for advanced healthcare services in the region.
Shares of Global Health Ltd ended at ₹1,010, up 3.72% on the NSE ahead of the announcement, as reported by CNBC TV18. The positive market reaction reflects investor confidence in the company's expansion strategy and the potential for growth in the eastern Uttar Pradesh healthcare market.
