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February 26, 2013

Deal Alert: Frontier Lifeline Hospitals to raise Rs.500-Cr funding for medical park

Frontier Lifeline Hospitals is in talks with foreign institutions to raise about Rs.500 crore for setting up Frontier Mediville, India's first medical science park. The funds will be used to complete the second phase of Mediville. At present, holds 11% in the project. 

The Rs.1,000-crore Frontier Mediville is spread over 360 acres and located 40 km away from Chennai at Elavur village in Tiruvallur district. The promoter and his family own 73% of the shares. Another 16% stake is with the Technology Development Board of the department of science and technology. Rajasthan Venture Capital Fund (RVCF) holds 11% stake. 

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