Apollo to Invest $29 Mn in New Cancer Center Amid Expansion Plans

The Chennai-based company is also exploring acquisitions and greenfield projects, particularly across urban centers in northern India, Karnataka, and metropolitan cities like Kolkata, Hyderabad, and Mumbai.

Apollo Hospitals Enterprise is set to build a $29 million cancer treatment facility as part of its broader expansion strategy to meet the rising demand for quality healthcare in India.

The Chennai-based company is also exploring acquisitions and greenfield projects, particularly across urban centers in northern India, Karnataka, and metropolitan cities like Kolkata, Hyderabad, and Mumbai.

“There is a huge requirement for additional beds,” said Managing Director Suneeta Reddy. “We estimate the current shortage at around 100,000. Apollo will add about 3,500 beds over three to four years,” she said, focusing on achieving “market leadership in key cities” across the northern region.

The expansion comes amid heightened investor interest in India’s healthcare space, driven by a growing segment of affluent patients seeking high-end medical care. Apollo had around 8,000 beds as of December 31, and the additional 3,500 beds would represent a significant 44% increase in capacity.

According to a report by Grant Thornton and the Association of Healthcare Providers (India), nearly $15 billion has been invested in Indian healthcare assets since 2022. Major players, including Blackstone Inc., KKR & Co., and the Adani Group, are increasingly active in the sector, prompting Apollo to safeguard its existing market share.

Reddy emphasized that the upcoming cancer center aligns with the company’s strategy to strengthen its presence in specialized services. “Oncology, cardiac, neurology, and preventive health care are key pillars of growth for us,” she stated.

Apollo’s plans also extend to digital health services and pharmacy operations. The firm anticipates a 20% year-on-year growth in these areas, bolstered by the launch of a new insurance product to improve accessibility to its services.

The announcement signals Apollo’s intent to retain its leadership position in a rapidly evolving healthcare landscape, where competition intensifies and demand for quality medical infrastructure continues to rise.