Jha said his desire to turn the Mata Janki Kunwar Hospital in Bettiah to a full-fledged medical college and hospital was part of his goal to see Bihar on the development path.
"I would love to help and ensure better medical facilities to people in the state," Jha said during a visit here Friday.
Jha's announcement has come at a time when the nearly six-months-old Nitish Kumar government has declared its intention to invite private participation to develop the state's health sector in a big way.
Earlier, Jha offered to build a four-lane highway between Vaishali and Muzaffarpur districts in north Bihar, a project no private company wants to execute due to the poor law and order conditions in the area.
Jha's offer came after Nitish Kumar invited private companies to construct roads on a "build, operate and transfer" (BOT) basis.
Jha has also announced plans to build several multiplexes in Patna.
Jha, who hails from a village near Bettiah, campaigned for Nitish Kumar's Janata Dal-United during the assembly polls in 2005.