Apollo Hospitals to Invest INR 3,435 Cr for Expansion

With this investment, the hospital giant seeks to add beds across eight locations to their network. The new hospitals will be in Chennai, Mumbai, Delhi, and Bengaluru. They also plan to expand their presence in Tier-II cities.

Healthcare major Apollo Hospitals has planned to invest INR 3,435 Cr for adding 2,300 beds to its existing capacity in the next three financial years.

With this investment, the hospital giant seeks to add beds across eight locations to their network. The new hospitals will be in Chennai, Mumbai, Delhi, and Bengaluru. They also plan to expand their presence in Tier-II cities.

Reportedly, the company entered into a binding agreement for a 250-bed new hospital asset in Pune, expandable to 425 beds. With this expansion, Apollo will have over 1,000 beds in Maharashtra including Mumbai, Pune and Nashik.

Additionally, the Board, based on the recommendations of the Investment Committee, has evaluated and approved an expansion plan for the company involving a balance capital outlay of around 34.350 million after accounting for land/ asset acquisition costs already incurred.

This strategic expansion caters to the increasing demand for quality healthcare services across the country further driving business in identified locations. Further, this investment will be funded through internal accruals and debt financing.

Sharing his views, Prathap C Reddy, Chairman, Apollo Hospitals Group, said "We are happy to have announced our new hospitals at Pune and Kolkata, and we are forging ahead with our plans to add 2300 high-quality beds in key geographies over the next three years."

Founded in 1983, Apollo, India's first corporate hospital, aims to provide international standards of healthcare within the reach of every individual. Currently, their healthcare ecosystem includes hospitals, pharmacies, primary care & diagnostic clinics and several retail health models.

In addition to physical expansion, Apollo Hospitals is also investing in advanced medical technologies. They have also launched India’s first comprehensive 5G-connected Ambulance service.

Recently, Apollo Hospitals launched its second facility in Kolkata in a deal worth INR 103 Cr. This acquisition aligns with Apollo Hospitals' expansion strategy in key regions, including brownfield and greenfield projects. Moreover, this acquisition marks the company's fifth addition in the eastern region, increasing the group's total hospital bed capacity to over 1,800 across Kolkata, Bhubaneswar and Guwahati.

Last month, Apollo’s Adlux Hospital Unveiled an advanced stroke clinic in Kerala. The advanced clinic is an expansion of the Neurology Department that offers a range of services including a dedicated 24/7 emergency hotline (1066), comprehensive diagnostics encompassing CT/CTA/CT perfusion, MR/MRA, cerebral angiogram, and 3D rotational angiography.