Artemis Medicare Services to rebuild VIMHANS in Delhi's Nehru Nagar

New Delhi, Feb 24 (PTI) Private healthcare provider Artemis Medicare Services has entered into an agreement to rebuild the Vidyasagar Institute of Mental Health and Neuro and Allied Sciences (VIMHANS), a multispeciality hospital, in Nehru Nagar.

It will also take over the operations and management of the hospital, which will have a total built-up area of approximately seven lakh square feet, once it is reconstructed, according to a statement by Artemis.

VIMHANS is owned by the Dr Vidya Sagar Kaushalya Devi Memorial Health Centre.

The hospital will be developed as a fully integrated tertiary and quaternary care facility with more than 650 beds, delivering advanced clinical programmes across all major specialities, it said.

Upon completion, the facility is expected to directly employ over 2,000 healthcare and support professionals, making a meaningful contribution to employment generation and strengthening the regional healthcare ecosystem, the statement said.

The facility will benefit from strong connectivity and access to a high-demand catchment in South Delhi and is expected to generate meaningful revenue and cost synergies with Artemis Medicare Services' existing NCR operations, it stated.

"Artemis holds long-term exclusive rights to provide medical services at the forthcoming. It will also provide an interest-free advance linked to the construction milestones of the facility, which shall be recovered by Artemis over an agreed period in accordance with the terms of the arrangement," the statement added. PTI PLB NSD