ITC plans to set up multi-specialty hospitals

• Diversified group ITC plans to set up multi-specialty hospitals and leverage its experience in hospitality for tapping into the expanding medical tourism segment in

• The Kolkata – based firm, better known for FMCG products and cigarettes, is seeking approval from shareholders through a special resolution to alter its Memorandum of Association in order to be able to foray into the healthcare sector.

• The move is in the context of the company’s vision to “sub-serve national priorities which has driven the company’s operations, diversification initiatives and CSR policies and practices”, it added.

• ITC will compete with the likes of Chennai-based Apollo Hospitals, Fortis and Max Healthcare which are among the major private players in the sector.

• The company is looking at the whole gamut of healthcare to be included in its amended Memorandum of Association.

• ITC is striving to position itself as one of India’s most valuable corporations “through world class performance, creating growing value for the Indian economy and the company’s stakeholders”.

• For its FMCG business, the company has set an ambitious target of Rs 1 lakh crore revenue from this segment by 2030 and it is looking to create “world-class Indian brands” by leveraging on its enterprise strengths.

• Therefore from the above news, we can conclude that ITC is giving an edge or is giving a competition to the major private hospitals.

Source – http://bit.ly/2ksdlPQ