IFCR India, a premier clinical research institute, alongwith Dr Krishna Menon, a renowned cancer drug researcher, has decided to enter healthcare management sector. The company plans to setup and operate hospitals in Kerala.

The joint venture is proposed to develop state-of-the-art training centers to meet the enhanced need of healthcare professionals.

Further, it will also develop and implement standards of service delivery that are international regulatory and accreditations compliant, cost effective and affordable to common man.

According to an official release, the JV company formed for the purpose, will take over clinics in private sector, healthcare training institutions, research centers, hospital supplies facilities and at a later stage specialty clinics.

The company will initially take over 10 hospitals, mostly having 50 to 100 beds, during first five years of working.

Both partners intend to pump Rs 20 crore as an investment amount, which is expected to be generated through foreign PE firms.

The agreement for the joint venture is expected to be signed in next few months.