Noted surgeon and founder of Global Hospitals Dr. K Ravindranath has pledged Rs 350 crore or $50 million to help build a world-class, not-for-profit medical education, research, and innovation institute in Hyderabad. Incidentally, the amount happens to be 70 percent of his wealth.
According to a press release announcing the same, the surgeon will be floating Global University Foundation to build a medical university and research innovation hub in Hyderabad. The Global HealthTech University and Innovation Hub (GHUIH), a section 8 (non-profit) company, is being developed with the aim to democratize medical care by health tech innovation and put Hyderabad on the global innovation map.
Towards this end, the proposed 750 to 1000 bed hospital and health-tech innovation hub requires a capital of $100 million over a period of seven years for procuring and installing medical technology infrastructure and human resources, the press release further added.
As mentioned, Dr. Ravindranath has pledged 70 percent of his wealth, which will suffice for 50 percent of the capital required. The rest will come in from his philanthropic friends from medical, pharma, technology, and commerce fields across the globe. They will also be supporting the cause with ideation and knowledge.
“GHUIH is being established in Hyderabad to provide a new model for sustainable development of medical infrastructure, which helps the global population by building infrastructure on the philanthropic model. It also contributes to reducing the load on the governments, reduces the cost of intervention through innovation thus strive towards providing health security for all,” Dr. Ravindranath said, talking about his future cause.