India allows consortiums to set up medical collegesAugust 7, 2019
Aconsortium or a group of companies can now establish and run medical colleges in India, according to a government notification.
Relevant sections of the Establishment of Medical College Regulations, 1999, which are currently in force, have been amended to grant eligibility to the consortia for setting up medical colleges.
The Board of Governors in supersession of the Medical Council of India (MCI BOG) have decided to make the amendment as a part of the effort to invite greater participation from the private sector to come forward for establishing medical colleges. It will help impart high quality medical education and training facilities to the students aspiring to become doctors without compromising the standards of medical education, the notification published in the official Gazette said.
Listing the various criteria, the notification said that such a consortium should have a minimum of two, but not more than four members. The organizations can include societies, trusts, companies and universities. The member organisations should have entered into a registered memorandum of understanding or agreement for seeking permission.
The ‘consortium leader’ is entitled to make an application to the government to establish and run a new medical college. The consortium should have an annual turnover of not less than Rs.500 crores in the preceding financial year and have specifically allocated a minimum corporate budget of Rs.100 crores to be exclusively utilised for starting the medical college.
Meanwhile, each of the member organisation should individually have not less than Rs.100 crores yearly turnover in the preceding financial year and a minimum corporate budget of Rs.50 crores specifically allocated for the purpose.
The new facility should ensure a 300-bedded hospital dedicated for the teaching and training of students, the notification said, explaining the various criteria.