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PVS Hospital stays off acquisition bids by quoting higher price

PVS Hospital in Kochi, today is on the verge of shutting down, with the management closing down most of its major facilities.

Published: 13th May 2019 03:40 AM  |   Last Updated: 13th May 2019 03:40 AM   |  A+A-

medicine, medical field, doctors

For representational purposes

Express News Service

THIRUVANANTHAPURAM: Despite leading major medi-care providers of Kochi, including Lisie, Medical Trust, Lakeshore Hospital etc holding talks with the Kochi’s PVS Memorial Hospital management to acquire the debt-strapped hospital, higher price quoted by the management is forcing the stalemate to continue, say doctors.

PVS Hospital in Kochi, today is on the verge of shutting down, with the management closing down most of its major facilities.

According to the sources, around `325 crore was offered by Lisie Hospital, and `300 crore by the Medical Trust, to acquire the debt-strapped hospital which has a financial liability of nearly `180 crores. “The hospital authorities have not paid any dues and the liabilities have increased. They may have incurred a loss from any or several other ventures that they have entered, including real estate, but our services have definitely paid off, and the hospital has not incurred any loss, to my knowledge,” said a senior doctor working at PVS Hospital, on condition of anonymity. Doctors at PVS acknowledge that talks have been held with various major hospitals in the city  to explore a sale and resolve the crisis, but nothing has fructified as the management stuck to its demand for a much larger price. “They are not bothered about the families, who win their bread from this hospital.

We have been practically shut down, with no surgeries taking place, and hardly any in-patients. Out-patient facilities were stopped earlier this month. The high base-price set by the management, has put off many capable prospective bidders who could rescue the hospital,” said a doctor. Meanwhile, Lisie Hospital authorities confirmed that they were in talks with the PVS Hospital management on buying them out, but talks were not progressing to their satisfaction.
 “Around 500 staff of the hospital, including doctors, have not received their salaries, provident fund, and other benefits, for almost a year,” said the medical director of PVS Hospital, Dr Mathew Philip.

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