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Apollo Hospitals to invest Rs 350 cr to add 1,800 beds

Chennai-based Apollo Hospitals Group plans to invest Rs 350 crore to add 1,800 beds over the next 18 months. With the planned new addition of 1800 beds, Apollo Group's total capacity would touch 7,200 beds, from the current 6,400 beds. //

"There is a plan for adding 800 beds through management of hospitals and another 1,000 beds from ownership,” says Apollo Hospitals Group Director Finance, Suneeta Reddy, said here on the sidelines of India Health Summit organised by CI I and the Indian Healthcare Foundation.

She said that the expansion would be through acquisitions and creation of green-field facilities. Ms Reddy said the new hospitals were planned nationwide. A study by the Indian Market Research Bureau (IMRB) had been commissioned on various locations for existing and new facilities. She said that the investment would come from the deployment of the $75 million fund, which the group had raised through its GDR issue.

The group recently lost out to Fortis Healthcare its bid to acquire the Escorts Heart Institute and Research Centre.

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