Kotak Mahindra Bank Enters Into Healthcare Financing

Kotak Mahindra Bank on Tuesday announced that it has launched its healthcare financing solutions.

Kotak Mahindra Bank Enters Into Healthcare Financing

Kotak said India's healthcare industry is estimated to record strong growth over the next few years.

New Delhi: Private lender Kotak Mahindra Bank on Tuesday announced that it has launched its healthcare financing solutions ranging from healthcare infrastructure loans, medical equipment finance and unsecured healthcare loans with an aim to cater key stakeholders in the healthcare ecosystem.

Kotak in a release said it has introduced a comprehensive offerings at attractive interest rates to meet the financing requirements of all the key players, including lending facilities such as quick loans up to Rs 50 lakh with minimum documentation.

The lender stated that the India's healthcare industry is estimated to record strong growth over the next few years.

"Increasing investments in healthcare are fueled by a greater focus on the part of the government to provide accessible, affordable and quality healthcare across the country. Further, rising insurance coverage and a distinct shift towards wellness & preventive healthcare, in addition to medical tourism, all point towards a robust long-term growth outlook for the industry," Kotak added.

Sunil Daga, President & Head – Business Banking Assets, Kotak Mahindra Bank said, "Unquestionably, healthcare is a priority sector for India over the next 3-5 years and beyond. The pandemic has only served to underscore the importance of the sector and the need for increased expenditure and investments to improve both the capacity and the quality of the country's healthcare infrastructure. To add to this, we are also seeing a growing consciousness towards health and wellness by consumers."

"The industry is at a pivotal juncture, and we believe the time is right for a customized and diversified range of funding options to cater to the entire supply chain. Kotak's healthcare finance proposition will support the growth of the Indian healthcare industry," he added.

Kotak said it will provide a range of healthcare financing options like for purchasing medical equipment finance from manufacturers or authorized dealers, working capital loans, healthcare infrastructure loans, unsecured doctor loans and loans against receivables to healthcare institutions and individual doctors for expansion of business.