The noted surgeon has floated not-for profit Global University Foundation to build a medical university and research innovation hub in Hyderabad.
Hyderabad: Founder of Global Hospitals and noted surgeon Dr. K Ravindranath has pledged 70 per cent of his wealth, amounting to over Rs.350 crore (US 50 million), to build a world class not-for profit medical education, research and innovation institute in Hyderabad.
The noted surgeon, a press release said, has floated 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 will aim to democratise medical care by health tech innovation and put Hyderabad in the global innovation map.
To establish medical university of the scale of GHUIH with 750 to 1,000 bed hospital and health-tech innovation hub requires capital of more than 100 million US dollars over a period of seven years towards medical technology infrastructure and human resources, the press release said.
While Dr Ravindranath pledged 70 per cent of his wealth, which will take care of 50 per cent of capital required, many of his philanthropic friends from medical, pharmaceutical, technology and commerce fields across the globe have evinced interest in contributing the balance required funds, apart from 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 philanthropic model. It also contributes in reducing the load on the governments, reduce the cost of intervention through innovation thus strive towards providing health security for all,” Dr Ravindranath said.