Elbit-Reddy Joint Venture In India

2 December 1996

Elbit Medical Services of Israel and Dr Reddy's Group of India have announced the formation of a joint venture, Elbit International Medical Center. Dr Reddy's Group is a manufacturer of bulk drugs and exports penicillin, while Elbit Medical Services is a division of the Haifa-based Elbit Holding Group and operates about 30 medical centers worldwide.

The new venture will set up a chain of medical centers equipped with a range of diagnostic and therapeutic equipment. The first center, to be set up at a cost of $6 million, will open in the southern Indian city of Bangalore under the name of Elbit Diagnostic. The company will invest $80 million over the next three years in similar projects.

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