About
Family Care Hospitals Ltd
Family Care Hospitals Limited was originally incorporated as a Public Limited Company in the name of Pharma Offset Limited. Thereafter, the name of the Company was changed from Pharma Offset Limited to Pharma Com (India) Limited in June, 2000. Again, it was changed from Pharma Com (India) Limited to Count N Denier (India) Limited in March, 2012. Further, it got changed from Count N Denier (India) Limited to Scandent Imaging Limited in June, 2015 and from Scandent Imaging Limited to Family Care Hospitals Limited in June, 2022.
Established in 1982 as a partnership firm, Pharma Offset became a public limited company in Sep.'94. It was promoted by Rashmikant C Doshi and Uday M Raval. The Company is presently engaged in Healthcare Services business.
The company undertook an expansion-cum-modernisation programme in 1994-95. It came out with a public issue in Jan.'95 to part-finance the project.
Pharma Offset supplies its products to reputed pharmaceutical companies like Lyka Labs, Dolphin Laboratories and to multi-nationals like Parke-Davis, Sandoz, Merind, Fulford (India), etc. The company has entered into a firm tie-up with Lyka Labs and Dolphin Laboratories for an offtake of upto 60% of the expanded capacity.
In 1998-99, the company commenced an additional activity of trading in chemicals and bulk drugs.
During the year 1999-2000, the company has changed its name to Pharma Com (India) Ltd.
In 2018, the Company started two hospitals with the name of 'Family Care Hospitals' (FCH) in Mira Road and Mahim. In 2019, it started with their pharmacy business and provided people to buy medicines in a single click in their application specially designed to get them delivered at their convenient location. The FCH family boomed with introducing best multi speciality services viz, cardiology, Neurology, Gastroenterology, Nephrology, Urology, Obstetrics and gynecology, pediatric and neonatology, Orthopedics, General and Laparoscopy surgery. With most qualified and eligible team of doctors, FCH gained patient's trust and delivered high through Patient-Centric approach. FCH provided maximum services with minimum cost which buy belief in patients.
Family Care Hospitals Ltd
Chairman Speech
Dear Shareholders,
Your company continued to be invested in the consolidating and growing healthcare
services business. Your company during the fiscal has diversified from the core dental
diagnostics sector into integrated hospital management services.
Review of FY 2017-18 Performance
Total revenue of your company on rose by 188% in the current year from Rs 179.80 lakhs
to Rs 518.84 lakhs.
This growth has largely been a result of your company venturing into the hospital
management business. For strategic focus and management purposes, your company initially
intends to work in the Western Indian region with a narrower focus on the Mumbai
Metropolitan Region in the initial few years of growth. We believe that the Mumbai region
itself offers a vast market potential for our services. These are early days of experience
for your company and we are in the process of building up the required management and
business expertise to deliver sustainable growth in this segment.
Your company's primary business of running the chain of CBCT imaging centres continued
to do well.
The number of such centres expanded from 9 centres at the beginning of this fiscal, to
10 centres by end of March 2018. Your company continues to be a leader in the independent
third party CBCT imaging centre networks across India. Your company also for the first
time, is experimenting the concept of installing OPG imaging machines through our 'OPG
Convenience Program' at established Dental clinics belonging to corporate Dental chains,
Hospital based Dental clinics & individual owned premium Dental clinics on a revenue
sharing formula. During FY2018, a total of 20 OPG machines were installed across
Bangalore, Mumbai. Some of the key partners with whom we are providing our OPG services
are Axiss Dental South, Ampa Orthodontics, Fortis & Aster Hospitals among others. The
results have been so far encouraging and we continue to build on this strength by taking
it to other cities in India involving more such clinics. Your company's activities are
supported by more than 2500 dentists in Mumbai. These imaging centres are run under the
brand name of "Scandent".
Your company took over 3 hospitals in Mumbai. They were an operating 15 bed hospital
for management in Saki Naka, a 25 bed hospital in Mahim and a 100 bed infrastructure multi
specialty hospital in Mira Road, in Mumbai. These acquisitions were done between August
2017 and March 2018. Totally, the bed capacity available for servicing for your company
stands at 140 hospital beds, with interests in medical diagnostics and pharmacy. The aim
is to provide secondary level care and support for patients and service all basic needs of
the patients in a cost efficient and convenient manner. This is being operated as a
separate division within your company and is operated under the brand name "Family
Care". We expect every business in this segment to have an initial period of losses,
before breaking even in operations as your company would have to make investments into
both capex, opex and also ensure on the compliance and management aspects of these
businesses. Your company is working on focusing and managing of these risk at all times.
As all these hospitals were either having financial stability issues or limited growth
prospects, our team is now focused on turning around every hospital under our management,
by adopting centre specific strategies and building on existing business performances.
Your company is now fully experiencing the requirements of the hospital business and looks
forward to be a meaningful participant in this business. These business expansions are
being funded through internal accruals, balances and by borrowings from related group
entities.
Consequently, Earnings before Interest, Depreciation and Taxes (EBIDTA) for your
company for FY2018 grew by 353% to Rs 159 lakhs from Rs 45 lakhs the previous fiscal.
Also, given that our business model is asset light and performance oriented, the net
profits for the company grew to Rs 86 lakhs in FY2018 from Rs 16 lakhs in the previous
fiscal.
Dividend
As your company has just turned around and does require some more time to mature its
businesses and operations, the board of directors has decided to avoid declaring of any
dividend for this year.
Business Outlook FY2018-19
Considering that the Indian national elections would be around by the beginning of next
year, it would be prudent to avoid expectations of any massive economic growth measures to
be unveiled in the last budget for this government. However, as healthcare is a
politically sensitive subject, there could be popular measures for public healthcare
implemented by the central government which may have a short term negative bias for the
private sector business.
The proposed government agenda to give up to Rs 5 lakhs insurance cover per family per
year for more than 200 million families with marginal or no incomes can make this
significant change to the healthcare business environment. Also, the focus to reduce input
costs for stents and other medical equipments could be a positive for our expansion plans
in the hospital and diagnostics business. The risks primarily emanate from the ability of
our management to deliver on the business turnarounds and the pricing of our acquisitions
to ensure an early breakeven.
The recent consolidations and sell outs of some of the larger reputed and larger
hospital brands remind us to be very cost effective in our approach and sensitive to the
industry ground scenarios. Several of the larger private hospitals and smaller hospital
chains are bleeding and/or do not have next generation leaders to lead their businesses.
Borrowings have been the key reason for most large companies facing the challenge. For
smaller set-ups, it has been their inability to seek and secure the right teams to manage
their operations. Our interest in acquiring existing set-ups across a certain region,
along with rebranding of the same under "Family Care" and consolidating their
operations and increasing our business efficiencies could be our way ahead in this
business. We intend to deepen our learning in this business during FY2018. We would be
continuing our expansion of the OPG imaging networks this fiscal as well.
Thanking you.
Dr. Gautam Deshpande
Managing Director
DIN:00975368
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Family Care Hospitals Ltd
Company History
Family Care Hospitals Limited was originally incorporated as a Public Limited Company in the name of Pharma Offset Limited. Thereafter, the name of the Company was changed from Pharma Offset Limited to Pharma Com (India) Limited in June, 2000. Again, it was changed from Pharma Com (India) Limited to Count N Denier (India) Limited in March, 2012. Further, it got changed from Count N Denier (India) Limited to Scandent Imaging Limited in June, 2015 and from Scandent Imaging Limited to Family Care Hospitals Limited in June, 2022.
Established in 1982 as a partnership firm, Pharma Offset became a public limited company in Sep.'94. It was promoted by Rashmikant C Doshi and Uday M Raval. The Company is presently engaged in Healthcare Services business.
The company undertook an expansion-cum-modernisation programme in 1994-95. It came out with a public issue in Jan.'95 to part-finance the project.
Pharma Offset supplies its products to reputed pharmaceutical companies like Lyka Labs, Dolphin Laboratories and to multi-nationals like Parke-Davis, Sandoz, Merind, Fulford (India), etc. The company has entered into a firm tie-up with Lyka Labs and Dolphin Laboratories for an offtake of upto 60% of the expanded capacity.
In 1998-99, the company commenced an additional activity of trading in chemicals and bulk drugs.
During the year 1999-2000, the company has changed its name to Pharma Com (India) Ltd.
In 2018, the Company started two hospitals with the name of 'Family Care Hospitals' (FCH) in Mira Road and Mahim. In 2019, it started with their pharmacy business and provided people to buy medicines in a single click in their application specially designed to get them delivered at their convenient location. The FCH family boomed with introducing best multi speciality services viz, cardiology, Neurology, Gastroenterology, Nephrology, Urology, Obstetrics and gynecology, pediatric and neonatology, Orthopedics, General and Laparoscopy surgery. With most qualified and eligible team of doctors, FCH gained patient's trust and delivered high through Patient-Centric approach. FCH provided maximum services with minimum cost which buy belief in patients.