Chennai Meenakshi Multispeciality Hospital Ltd
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BSE Code:
523489
NSE Code:
CMMHOSP
Business Profile
Business Profile
Devaki Hospital was established by Eskeycee Medical Foundations in 1978-79 with 60 beds and now the hospital has 100 beds. The hospital went public in the year 1991.
It also has a nursing school, which turns out 20 nurses in a year. The hospital`s core areas of strengths are nephrology department, which does about 6 to 8 renal transplants a month. It runs specialized drug trials for specific post transplant immune-suppressive therapies.
It also has urology, orthopedics, cardiology, general medicine and ICU care. In Urology, laser therapy, it has extra corporeal shock wave therapy for the treatment of renal stones (lithotripsy) and laser therapy for prostrate, tumors and stones.
The Madras Medical Care and Health Center has acquired 33.65% of the hospitals equity in a takeover bid. In the year 2004, Dhanalakshmi Bank took over a part of Devaki Hospital.
Financials
The company reported increase in revenue to Rs 19.48 million in December 2006 from Rs 18.80 million in the previous year, resulting in a rise of 3.62%. It posted decline in net profit by 177.92% from Rs 1.54 million in December 2005 to a loss of Rs 1.20 million in December 2006.
During the year ended March 2006, the company`s turnover increased by 21.98% from Rs 59.59 million in 2005 to Rs 72.69 million in 2006. The company posted profit of Rs 10.05 million in 2006, as against loss of Rs 7.39 million in 2005.
Recent Developments
29-NOV-07
Devaki Hospital changed its name to `Chennai Meenakshi Multispeciality Hospital`.
Future Plans
The company plans to update existing infrastructure to meet demands of 250-300 cardiac surgeries per annum. This involves updating the operating room, post-operation ward and ICU and CCU, and starting a dedicated cardiac catheterization lab.
Devaki Hospital will raise necessary funds by preferential issue of warrants to raise approximately Rs 130 million over the next 18 months. The plan is to issue 6,320,000 warrants at a price of Rs 10 each and premium of Rs 12.25 each. The promoters share in this will be around 2,810,000 warrants.