India's DLF to foray into hospital space

MUMBAI, Aug 10 (Reuters) - Indias top real-estate developer DLF (DLF.NS) will form a company with Global Health Ltd (GLOH.NS) to launch a multi-speciality hospital, the two companies said on Thursday, in what is DLFs foray into the countrys booming hospital sector.

Both Global Health, which runs the Medanta chain of hospitals, and DLF will own 50-50 equity in the new company and the hospital, with about 400 beds, will be located in the capital city of New Delhi.

Indias healthcare sector has global investors scouting the market, Reuters reported in June, with global consultancy PwC forecasting 12-14% annual growth for a private healthcare market currently worth around $48 billion.

DLFs profit rose nearly 12% to 5.27 billion rupees ($64.3 million) in the April-June quarter.