Health Expansion

Aug 12, 2011 (LBO) – Sri Lanka’s Hemas group is expanding its healthcare business with land bought in Battaramulla to build a new hospital near the island’s capital, group chief executive Husein Esufally said. “An expansion plan to add two more hospitals to the chain is well underway and we have been successful in securing a land at Battaramulla to construct our third hospital,” Esufally told shareholders in a quarterly review.

The group’s hospitals had seen a 26 percent increase in revenue in the June quarter and its main 100-bed hospital in Wattala had broken even in June 2011.

Hemas also has a 50 bed hospital in Galle in Sri Lanka’s south.

Hemas has started a program with Sri Lanka’s Open University and Aquinas University College to train 250 nurses a year.

Hemas said its healthcare sector revenues grew 16 percent to 1.8 billion rupees in the June quarter driven by pharmaceuticals. Pharmaceutical sales had increased 14 percent. The group says it has a 16.3 percent share in the private pharmaceutical distribution sector.