ITC Ltd plans to set up multi-speciality hospitals that will set “a new standard” in healthcare.

Announcing the cigarette maker ’s plans to enter the healthcare segment, Chairman YC Deveshwar on Friday said that patient well-being rather than revenue would will be the focus of ITC hospitals.

The company would “start with one” multi-speciality hospital. The investment outlay for the proposed healthcare project, location of the hospital and probable time frame for implementing the project are yet to be decided.

“There have been a lot of complaints against hospitals using patients as a tool for revenue. We will look at setting up a multi-speciality hospital where patient well-being rather than revenue will be the focus,” he told reporters at a press conference after the company’s annual general meeting.

ITC’s hospital, he said, would not link doctors’ remunerations to revenue from patients. Rather, it would follow a “different model”, being worked out.

“We will create a new standard in healthcare by making patient care as the central focus, and not incentivise doctors to create revenue,” he said.

The diversified conglomerate is scouting for a Chief Executive Officer for the hospital project to finalise a roadmap for investment.

ITC has already amended its Memorandum of Association to accommodate its entry into the healthcare business.