Hey Nitin!

Hope you are doing well,
Well as your question states "newly established" and "old well known"
A newly established college-
PERKS
1- New updated medical equipment
2- Newly built infrastructure
3-Better facilities than old colleges

CONS
1- May be short of experienced faculties
2- May take time to run all the practical classes on full fledge due to delayed in shipping of equipments
3-Not very known in medical sector


OLD WELL ESTABLISHED
PERKS-
1. well experienced faculties
2.All sorts of equipments available
3. More practical exposure
4.Reputable name in Medical industry

CONS-
1. infrastructure may be old and not sophisticated
2. Lacking updated, world class technologies

Hope it answers your question!