News: Manipal group forays into retailing with Pantaloon

(BS 08/08/2006) Chennai/Bangalore - Manipal Health Systems will make a retail foray with plans to open over 100 healthcare stores across India over the next two years.

A comprehensive healthcare retail brand 'Manipal Cure & Care' will be launched through a joint venture with Pantaloon Retail which manages the Central, Big Bazaar and Food Bazaar malls.

The stores will offer pharmacy, medical consultations, cosmetology, optometry, dentistry, sports medicine and sports rehabilitation under one roof. The consultations planned include basic specialties like general medicine, paediatrics, ENT, dermatology, ophthalmology and sports medicine.

Dr Ranjan Pai, CEO, Manipal Education and Medical Group, said, "Manipal Cure & Care stores will bring healthcare delivery out of hospitals and clinics into a mall."

The JV, formed with an investment of Rs 10 crore, will be headquartered in Bangalore and the first Manipal Cure & Care store will come up on a 7,000-sq ft space on Old Madras Road in Bangalore.

Kishore Biyani, managing director, Pantaloon Retail (India), said, "Healthcare is a very emotional issue for all and getting the right partner for our health village initiative was a challenge. In Manipal, we have a partner with over half-a-century of history and a progressive outlook."