Sharing details of the project, the source said the venture will be under Equitas Healthcare Foundation Trust. “We had been scouting for land for some time and our intent has been to work with like-minded people. Shringeri Sharada Mutt donated the land measuring 9 to 10 grounds, while the Tata Group came forward with equipment worth Rs 25 crore,” the source said, noting that balance money to execute the project will be raised through philanthropists and the Equitas Small Finance Bank.

During the micro-finance phase, Equitas noticed that lack of nutritious food or access to affordable healthcare and education were the pain points of its customers. When the Equitas Development Initiative Trust focused on skilling, conducted health screening camps as part of tie-ups with hospitals, it found the need for a healthcare foray. “There was a huge demand for cancer treatment, especially among the economically-weaker sections. We decided to bridge this by targeting the segment with our healthcare facility,” the source said, adding 5% of the profits from the Bank and the holding company would be earmarked for the new healthcare entity.

The multi-speciality hospital will focus on oncology and only operational expenses have to be recouped. “It is like the Aravind Eye Hospital model, where the treatment plans will be affordable and the capex cost will not be weaved in the pricing of services. Though it will be mainly for economically-weaker sections with free or subsidised treatment, common people too can avail the facilities,” the official noted.

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