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Investment 2014-09-25

Apollo to invest Rs 2,033 crore to open 12 hospitals

As per the plan, the company will add 2,175 beds over next three years, the company said in its Corporate Review and Business Update 2014.

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Apollo to invest Rs 2,033 crore to open 12 hospitals

Healthcare major Apollo Hospitals Enterprise plans to open 12 hospitals in the next three years that entail an investment of Rs 2,032.7 crore, according to a PTI report.

As per the plan, the company will add 2,175 beds over next three years, the company said in its Corporate Review and Business Update 2014.

"Total funding requirement is Rs 2,032.7 crore. Already Rs 590.1 crore has been invested," it added.

When asked how the healthcare provider planned to raise funds for expansion, Apollo Hospitals Enterprise Chief Financial Officer Krishnan Akhileswaran told PTI: "It will be a combination of internal accruals and debt."

The group has significant headroom to raise capital, the update said.

Most of the hospitals will be super-speciality facilities while one of them will be multi-speciality and another a reach hospital.

The healthcare provider is following cluster strategy for expansion to ensure dominance in cities like Chennai and widen the reach in locations such as Bangalore. It is undertaking greenfield projects in attractive newer markets, the update said.

Other initiatives such as e-ICU and mobile health are also being taken up in a big way, Apollo Hospitals said.

Currently, the Chennai-based healthcare chain has 50 hospitals with an estimated bed capacity of 8,617 beds.

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