Stake sale plans to Fortis is untrue: Lotus Eye Care

831 Investors following Lotus Eye Care. Share this News with them.

0

Like this story, share it with millions of investors on M3

Stake sale plans to Fortis is untrue: Lotus Eye Care

In an interview with CNBC-TV18, Dr Selva K Sundaramurthy, Managing Director of Lotus Eye Care Hospital, spoke about his outlook for the company.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Fortis weighs counter to Khazanah bid for Parkway - paper Fortis Health infuses $ 100 mn via conversion of warrants ALSO READ See latest News about Lotus Eye Care See previous management interviews See what other Experts & Brokerages are saying about Lotus Eye Care Lotus Eye Care BSE | NSE 29/05/12 Are Mutual Funds betting on Lotus Eye Care? Other Stocks in this news Fortis Healthcare |

In an interview with CNBC-TV18, Dr Selva K Sundaramurthy, Managing Director of Lotus Eye Care Hospital , spoke about his outlook for the company.

Here is a verbatim transcript of the interview. Also watch the accompanying video.

Q: You have done around Rs 14 crore in FY10. How did the year pan out in terms of growth?

A: Out of the four centers we have three centers practice as a Lasik procedure. So we have increased procedures compared to last year. We also have also got number of retinal procedures, more number of diabetic patients coming in and also the new intraocular lens surgical procedures have been on the increase.

Q: Geographically where the growth has coming from?

A: All the centres have shown definite growth, but one centre in Salem has shown more growth than other three centres.

Q: Keeping all this growth in mind and the FY10 that you reported this time around, how do you expect FY11 to pan out for you? What are you targets there?

A: The growth could be expected more in the vitreo-retinal areas. In Tamil Nadu we have more of government sponsored, the Chief Minister's name Kalaignar Insurance Scheme where we get most of the procedures sponsored by the government and we are member of that insurance scheme. We get lot of poor patients come and have the procedure done and that money is been funded through the insurance company.

Q: What plans do you have on your capital expenditure?

A: We have lot of plans going on. We have already increased our inpatient flow by bringing patients. So we are setting up because Salem has shown lot of growth. We are setting up one more centre in Salem, which will be operational in another month's time. In Coimbatore we are also going to setup about 50 km away, one more centre where more outpatients will be bring in to the main centre for surgical procedures.

Q: Could you quantify this entire capacity expansion plan for us? How much will you be investing in this capex and how do you plan to get it funded?

A: We are going to setup in rented building. Major instruments are not purchased. Only the outpatient clinics will be setup and the investment is not very high.

Q: Any stake sale plans as there have been lot of buzz about you receiving some proposals from Fortis . Is there any truth to that?

A: I haven't received any proposal from anybody and we are also not interested.