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August 27, 2007 13:08 IST
Ranbaxy [Get Quote] promoter group company Fortis Healthcare [Get Quote] said on Monday it will invest Rs 800 crore (Rs 8 billion) to set up a seven-star medicity in Gurgoan.
The company will start construction on the 950-bed medicity on Tuesday. It will be spread over 10.7 acres of land.
In the first phase, which is expected to be completed in the next two to three years, the medicity would have 350 beds.
"Fortis International Institute of Medical Sciences is going to be our flagship hospital and it will contribute significantly in setting new standards of healthcare delivery in the country," Fortis CEO and managing director Shivinder Mohan Singh said.
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