Sri Lanka’s Nawaloka Hospitals launched Rs. 350 million expansion project in Negombo
Nawaloka Hospitals Group in Sri Lanka is launching a Rs. 350 million expansion project to take its services to Negombo.
The company has reportedly said its fully owned subsidiary Nawaloka Medicare Ltd. will construct a six storied building in front of the existing Nawaloka Negombo Hospital.
According to reports, the new unit will expand the services of OPD, ETU, pharmacy, channel consultations and inward patient rooms.
Construction work on the land taken on a 30 year lease is expected to be completed by June next year.
In the first nine months of FY20, Group revenue was Rs. 6.6 billion, marginally up from Rs. 6.5 billion a year earlier whilst profit from operations has declined to Rs. 937.6 million from Rs. 1 billion, local media reports stated.
OSL take:
The current global scenario due to Covid 19 has resulted in the increase in business/investment opportunities in Sri Lanka’s healthcare sector. Many private health institutions are looking at expansion. Foreign businesses/investors exploring business opportunities in Sri Lanka could look at opportunities in Sri Lanka’s healthcare sector.
| Article Code : | VBS/AT/15072020/Z_5 |