Artemis Medicare Services Limited has informed the Exchange about execution of Medical Services Agreement for VIMHANS, Nehru Nagar, New Delhi
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Artemis Medicare Services has signed a Medical Services Agreement with Dr. Vidya Sagar Kaushalya Devi Memorial Health Centre (VIMHANS) to exclusively operate and manage a 650+ bed multi-speciality hospital in Nehru Nagar, South Delhi, to be branded 'VIMHANS ARTEMIS HOSPITAL'. The facility will be developed on a 3.5-acre land parcel with about 450 beds commissioned in Phase 1 by FY29, expanding to 650+ beds later. Total planned capital expenditure is INR 500–520 crore (roughly INR 75–80 lakh per bed), to be funded through internal accruals and debt. The agreement has an initial term of 15 years, extendable by another 15 years at Artemis's sole option. The hospital will be a tertiary and quaternary care facility covering neurosciences, cardiac sciences, oncology, organ transplant, critical care, and robotic surgery, and is expected to employ over 2,000 professionals.
This is a meaningful capacity expansion that lifts Artemis's bed strength from ~800 beds (including the upcoming Raipur hospital) by over 80% once fully operational, strengthening its NCR footprint and long-term growth story. Shareholders should note the phased capex of INR 500–520 crore is sizeable relative to current operations and will be funded with debt, so leverage and execution timelines (FY29 commissioning) will be key things to watch.