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MIOT mulls Rs 28-cr expansion
By Chennai Bureau

Chennai May. 15. Chennai-based corporate hospital MIOT plans to invest Rs 28 crore to expand its medicare facility by creating an additional 80 beds. The hospital, which treated about 1,300 overseas patients last year, expects the number to go up in future. Dr PVA Mohandas, Managing Director, MIOT, informed media persons on Saturday that the expansion was to cater to the increasing demand from India and abroad. The expansion would be
completed in the next seven months, he said.

At present, the hospital has 250 beds treating about 26,000 people a year. Mallika Mohandas, Chairperson, MIOT said about 7% of the total patients were from overseas, through during holiday season – June and July – the number goes upto 10%. Mohandas said the hospital ‘s revenues were about Rs 48 crore, of which Rs 10 crore came as forex. Mohandas said overseas patients came for surgeries like total knee replacement, total hip replacement , disc and spinal surgeries. A good number of attendants who come along with the patients also opted for treatment, especially for weight reduction and other cosmetic surgery, she added. Over the years, the number of patients from abroad has been increasing she said, pointing that the hospital treated 1,300 foreigners in 2004-05, against 1,100 a year back, and 900 the year before. In all, the hospital treated over 5,000 patients from abroad. Started in 1999, it has earned so far forex of more than Rs 25 crore.
 

Medical tourism comes of age
By Special Correspondent

Agreement signed with private agencies in Canada

Chennai May. 15. When Chennai-based multi-speciality MIOT Hospitals received the 2002-2003 Niryat Shree Award from the Federation of Indian Exports Organisations (FIEO) for `Excellent Performance in Health Care Export’, it marked the coming of age of medical tourism as an industry.

While those eligible for the FIEO awards include export and trading houses, multi-product groups and healthcare service providers, it is the first time that a hospital has been chosen under the category.

From 2002 to 2005, MIOT earned Rs. 22 crores in foreign exchange, treating patients from foreign countries, thus becoming the top contender for the award.

Mallika Mohandas, Chairperson, MIOT Hospitals, received the Niryat Shree Golden Trophy from Union Minister for Commerce and Industry Kamal Nath in New Delhi on Friday.

The hospital has treated patients from the United Arab Emirates, Saudi Arabia, Muscat, Oman and Qatar, Seychelles, Tanzania, Kenya, Yemen, Sudan, Maldives, Sri Lanka, Singapore, Malaysia, Rwanda, Mauritius, Bhutan, Bangladesh, Sikkim, Nepal, Korea and Myanmar. It has tie-ups with the Health Ministries of Seychelles, Oman, United Arab Emirates, Kuwait and Bhutan, said Mrs. Mohandas.

An agreement with private agencies in Canada was signed recently to facilitate patient referrals from that country.

Foreigners form five-seven per cent of the total patients, and this is matched by a similar percentage in the income as well. “It might go up to 10 per cent during the holiday season in June-July,” Mrs. Mohandas added. The number of foreign patients, however, was steadily increasing since the hospital started welcoming foreigners from July 2001, totalling up to 5,500 patients so far. They moved from 700 patients in 2001 to 1,500 patients (projections for the current year) in 2005.

Some of the key specialities foreign patients sign up for include computer-navigated surgery for total knee replacement, beating heart surgery, correctional spine surgery and microsurgeries in brain tumours, said P.V.A. Mohandas, director, MIOT.

“Generate exports to boost employment”
By Staff Reporter

Imports cannot be ignored, it stimulates manufacturing, services sectors: Kamal Nath

New Delhi May. 14. Exhorting Indian industry to focus on increasing incremental exports to create more jobs, Union Commerce and Industry Minister Kamal Nath on Friday said that sustaining a growth rate of 7-8 per cent was possible only if the country’s exports and foreign direct investments (FDIs) showed an upward trend.

“The Government is focusing on these two things to ensure uninterrupted growth. We also want suggestions from industry on employment-generating exports,” he said at the Exports Awards function of the Federation of Indian Export Organisation (FIEO) in New Delhi .

Stating that over the past decade the country’s foreign reserves have improved, Mr. Kamal Nath asked FIEO to start strategising on imports also. “We cannot ignore imports which needs direction. Increase in imports is necessary to stimulate the economy, particularly sectors like manufacturing and services. FEIO has played a major role in boosting India’s exports and should do the same in forming strategy for imports,” he added.

Assuring the exporting community of full support from the Government to achieve the export target of $ 92 billion for 2005-06, Mr. Kamal Nath said the Manmohan Singh Government had got the Special Economic Zone Bill passed in Parliament that would help broaden and deepen the country’s export base. “It is yet another milestone that will create export-friendly environment in the country.” Mr. Kamal Nath also assured industry that the Government was keen on joining global trade partnerships to stimulate investments. .

The Minister awarded the “Niryat Shree” and “Niryat Bandhu” Awards for 2002-03 to export and trading houses representing various sectors. He also gave away the FIEO “Lifetime Achievement Award” to the former Union Cabinet Secretary, Prabhat Kumar, and the former FIEO president, Ramu S. Deora, for their contribution to the country’s export efforts. A total of 58 persons were given the “Niryat Shree” awards while 10 exporters were given the “Niryat Bandhu” awards.

Significantly, the maiden “Niryat Shree” Award for “health related and social services” was received by Mallika Mohandas, the chairperson of the Chennai-based MIOT Hospitals.

Later Ms. Mohandas told presspersons that the award was an important milestone for the institution and a recognition for its work.

“The hospital will increase the number of beds for patients and also start a College of Nursing,” she added.

MIOT was earning valuable foreign exchange for the country as more and more patients were coming for treatment especially for cardio-vascular diseases and hip/knee joint replacement, she said.