HYDERABAD: Krishna Institute of Medical Sciences (KIMS) hospitals has inked an MOU with Nashik-based oncological surgeon Dr Raj Nagarkar to set up a 325-bed Super-speciality hospital – KIMS Manavata hospital – via the joint venture route at Nashik.

While KIMS will hold 51% stake in KIMS Manavata hospital, Dr Nagarkar will hold the remaining 49% stake in the proposed company.

According to KIMS hospitals, the new hospital is expected to go live by March 2024 and will be scaled up to full capacity over a period of time.

A definitive agreement towards the transaction will be signed in due course, it said in a regulatory filing to the bourses.

Pointing out that the move marks KIMS hospitals’ entry into the Maharashtra market, Dr Bhaskara Rao, MD, KIMS hospitals, said: “…with this association, we will be able to bring our affordable quality care model to Nashik.”

Dr Nagarkar, who received his surgical oncology training from the Tata Memorial hospital, Mumbai, followed by MRCS at the Royal College of Surgeons, Edinburgh, heads the 275-bed comprehensive cancer care facility HCG Manavata Cancer Centre.

The city-based KIMS hospitals, a chain of hospitals providing multi-disciplinary integrated healthcare services with a focus on tertiary and quaternary healthcare at affordable cost, has a network of 12 hospitals in Telangana and Andhra Pradesh with over 3,600 beds. This includes five in Telangana and seven in AP.