Apollo hospitals to raise 750 crores for expansion
After receiving an approval from the company's board, Apollo hospitals has declared an investment of Rs 750 crores to find the expansion of its healthcare business.
Now waiting for the regulatory approvals, the company is likely to spread the expansion over the next couple of months.
The company has also set it eyes for the said expansion in cities such as Bengaluru, Mumbai, Guwahati and Vishakaptanam.
The investment for Mumbai hospital is around Rs 550 crore while Bengaluru and Visakhapatnam are slated to cost around Rs 150 crore and Rs 170 crore respectively.
The company's arm Apollo Health & Lifestyle Ltd (AHLL) is also planning to invest up to Rs 500 crore for expansion going forward. It is looking to raise funds through private equity partners.
AHLL operates a network of primary care and specially care formats across India.
In the primary care space, it has five formats - Apollo Clinics, Apollo Sugar, Apollo Diagnostics, Apollo White and Apollo Dialysis. It also has Apollo Cradle and Apollo Spectra Hospitals in its portfolio.