Medical Tourism in India to be impacted for a short term period

According to a PTI report, the country’s growing Medical Tourism industry will be impacted for a short-term. According to Vishal Bali, CEO, Wockhardt Hospitals, post the terror attacks in Mumbai, they have received queries from several US patients asking whether it was safe to travel to Bangalore. Only after assurance about safety many decided to visit the city. “Foreigners still fear to visit the country therefore there will be a short-term impact on Medical Tourism.” He further stated that Wockhardt Hospitals, a leading player in the Medical Tourism sector was considering to raise funds through the private equity route. It had scrapped plans to raise funds through the capital market for expansion due to poor response to its IPO. The company has been looking at the private equity route but the global credit crunch has made investors including private equity finds to think twice before investing.

Bali stated that the next round of growth for healthcare will come from Tier-II Tier-III cities because of the huge demand in these locations and the scarcity of supply.