What do we aim for in the future?
The expansion strategy of Paras Healthcare has been broken into two Phases; Phase 1 is from 2015 to 2020 and Phase 2 is from 2021 to 2028. Expansion will primarily be in Tier 2 cities of the North Indian Hindi-speaking belt. “Our target is cities with a population of 2m+ that have a Medical College,” highlights Dr. Dharminder Nagar, Managing Director, Paras Healthcare. The focus will be on establishing tertiary care centers that focus on Oncology, Cardiology, Orthopedics and Neurology. These will evolve into specialized transplant centers.
By 2020, Paras Healthcare intends to establish tertiary healthcare facilities in other Tier 2 and Tier 3 cities too, to bridge the gap between demand and supply. “Five years from now we will have a bed strength of 1500. This year we expect to have the group revenue cross 500 crore, and that should become 1000-1200 crores within the next 5 years with additional beds, services and hospitals being added,” says Dr. Nagar. Partnerships with private and governmental organizations are in the offing. “We are in talks with many governmental agencies for a chain of cancer institutes and tertiary care centres and also with private companies keen on collaborating in operations and management of hospitals,” he says.
At the moment, Paras Healthcare is strictly focusing on its new chain of specialized mother and child care centres – Paras Bliss. The aim is to provide specialized maternity and neonatology care in areas where the same is deficient. Our units in Panchkula, New Delhi highlight the 3 tenets of Paras Healthcare – affordability, accessibility and quality. Keeping the same in mind Paras Healthcare shall be expanding its footprint in the next 5 years in 6 important cities of North India.
For setting up a new unit, Paras mainly adheres to its three tenets of healthcare – present accessibility of healthcare in the region, presence of affordable healthcare at the location and last existence of a specialized quality healthcare provider. If any of the aspects can be addressed, Paras Healthcare participates in providing exceptional healthcare facilities that can touch the lives of millions and improve the health infra of the state/region.
At present Paras shall be focusing on providing healthcare in Tier 2 cities in North India in cities with a population of more than 2million supported by a medical college. The same shall help in ensuring the pool of medical professionals.
Paras Healthcare works on the principle of bridging the gap. By providing exceptional medical expertise, infrastructure and technology to areas that lack the same, Paras is able to initiate a healthcare revolution in the rural areas. Paras Patna, Paras Darbhanga, Paras Guragon along with Paras Panchkula are examples to highlight the same.
Our mission is to provide the best quality medical service with utmost responsibility and compassion. Our management ensures that every patient gets the best possible treatment whether preventive or diagnostic.
Paras Hospitals aspires to be the preferred healthcare partner for the community. We will initiate all our endeavors based on the 3 tenets of healthcare – Affordability, Accessibility and Quality.