Hyderabad, 21.05. 2024: JV Ventures, an investment management firm with a focus on value-added infrastructure, today announced the launch of The Medical Centre (TMC). TMC is a holistic real estate solution that will create the best-in-class healthcare facility by bringing together convenient end-to-end medical services and integrated wellness under one roof. The first TMC centre with be operational at HITECH City in Hyderabad.
JV Ventures has already established two path-breaking, differentiated platforms in education and lifesciences with a combined portfolio of USD 500 million. While the flagship centre opens in the city in another six months, TMC will endeavour to open 75 centres across key cities including Bengaluru and Pune in the next 5 years with a target investment of USD 600 million.
Raja Jain was appointed as the CEO of TMC. Raja comes with over 20 years of experience including over a decade in development and leasing of commercial and retail assets. His last assignment as Vice President – Mall Management and Centre Head for Jio World Drive, Mumbai was a category creator in its own right. Prior to that, Raja has served in senior management positions at Makers Group, CBRE, and Inox Leisure Limited.
TMC centres are ideally located near residential neighbourhoods offering patients easy access to healthcare services with best-in-class experience. These centres are multi-tenanted facilities that bring specialty clinics, physicians, diagnostics and pharmacies under one roof.
At the same time, they provide an opportunity to doctors and clinics to lease purpose-built medical facility that save upfront investments in infrastructure. Each centre is designed to be code compliant and with amenities like stretcher lifts, ample parking, wheelchair access, and professionally managed facilities. TMC platform also undertakes built-to-suit for hospital chains, offering a unique proposition to increase their footprint in new locations in alignment with their asset-light approach to expansion.
Beyond real estate, TMC is also complemented with two offerings – The Specialist and Prescriptions – that help doctors become entrepreneurs. The Specialist offers a medical co-working space for doctors with flexible leasing models. These fully furnished, experiential spaces within medical centres are complemented with trained support staff and facility management services that minimize administrative burden and costs for doctors. In parallel, patients get hassle-free access to multi-specialists saving time on medical appointments. Through its digital community platform, The Specialist also gives member doctors an avenue to create awareness on specific topics that benefit patients, at large.
Prescriptions is the venture capital arm that provides access to funding for doctors to take up entrepreneurship. Through its pool of funds raised from angel investors, family offices and high net worth individuals, Prescriptions offers equity-linked investments to young medical professionals looking to establish themselves as independent practitioners.
Elaborating on the concept, Vishal Goel, co-founder of JV Ventures, shared, “India is likely to witness an exponential growth in demand of hospital beds for in-patient services that may grow at a CAGR of 4.8% to reach 3.57 million by 2033. Fuelled by limited public investment, this demand would increase the per capita availability of hospital beds from 1.6 per 1000 in 2023 to 2.4 in 2033. In light of the burgeoning healthcare needs in India, there is a shortage of purpose-built infrastructure and an ecosystem that promotes medical entrepreneurship. We believe the TMC platform, with its multi-pronged approach will be a game-changer that will redefine how healthcare services are provided”.
Jasmeet Singh Chhabra, co-founder, JV Ventures commented, “The addition of TMC to our portfolio is a testament to our efforts to invest and develop socially relevant infrastructure with community at its core. In addition to that, it warrants our investment partners favourable returns given the rising demand for such centres which is expected to double in the next decade.”
“I am excited about the overall impact of our endeavour with this platform”, said Raja Jain, CEO of The Medical Centre. “This is a great opportunity to develop a unique, first-of-its kind offering in India. Our first centre of about 35,000 sq ft is in HITEC City, a prominent IT and residential hub in Hyderabad and we look forward to expanding our footprint to Bengaluru, Pune, and other major cities.”
The Indian healthcare industry is experiencing a profound transformation, fuelled by a convergence of economic, social, and policy factors. Healthcare expenditure is projected to grow at a compound annual growth rate (CAGR) of 15-17%, reaching an impressive INR 7.67 trillion by fiscal 2025. In 2023, India accounted for over USD 4.6 billion of the total USD 14 billion private equity investments in the ’s healthcare segment in Asia Pacific region.
In the light of the momentum gathered by healthcare in India, innovative business models amongst healthcare providers are emerging to bring in operational efficiencies. There has been a shift from in-patient services in hospital to out-patient services in specialized centres, specifically for cardiac ailments, diabetes, eye-care, and birthing centres: The demands for specialized medical centres for out-patient services is expected to double in the next decade to a real estate value of over USD 1 billion. Moreover, the top 25 Indian cities are estimated to have a demand of about 15 million sq ft of medical centres by 2033, a staggering 10% of the total out-patient demand projected across the country.