Founder of Global Hospitals Group, Ravindranath Kancherla has pledged 70% of his wealth to build a world-class, not-for profit medical education, research and innovation institute.
Dr. Ravindranath has decided to float Global University Foundation to build a medical university and research innovation hub in Hyderabad with the pledged amount of ₹350 crore. The surgeon known for setting up global scale organ transplantation healthcare infrastructure in India will establish Global Health Tech University and Innovation Hub (GHUIH) that would consist of a top medical university and hospital on global scale with multi-disciplinary research and innovation focus.
To establish medical university, a 750 to 1,000-bed hospital and health-tech innovation hub requires more than US$100 million of capital over a period of seven years towards medical technology infrastructure and human resources. While Dr Ravindranath’s foundation will take care of 50% of capital required, many of his philanthropist-friends will contribute the balance required funds.
He said the instutute will be established in Hyderabad to provide a new model for sustainable development of medical infrastructure, which helps the global population by building infrastructure on philanthropic model. “It also contributes in reducing the load on the governments, reduce the cost of intervention through innovation and thus, strive towards providing health security for all,” he explained.