Apollo Group of Hospitals plans to raise Rs.450 crore for expanding the network of clinics
A player in the healthcare industry will pick up equity in the group’s arm to infuse the funds.
The subsidiary will utilise the proceeds on expanding the number of clinics to 150 from the present 78.
Sangita Reddy, Joint Managing Director, Apollo Hospitals Enterprise Ltd (AHEL), however, has refused to divulge the quantum of equity that it is going to dilute.
“We are going to complete the fund raising process this financial year,” she said.
Apollo Clinics, which runs multi-speciality clinics, is part of the Apollo Health and Lifestyle Ltd (AHLL), a wholly-owned subsidiary of AHEL. “After consolidating the network in top tier cities, we will fan out the concept to tier-II and III cities such as Vijawayada and Visakhapatnam,” she said.
The group, which has just completed a Rs.1,800-crore expansion project, will be crossing the 10,000-bed mark next month with the opening of the 600-bedded Mumbai facility.
The group will be holding international conferences in Chennai this week.
The seventh edition of Transforming Healthcare with IT and the sixth International Patient Safety Congress-2016 will be held on October 21 and 22.
The Patient Safety conference will come out a set of recommendations to the government.
(This article was published on October 18, 2016 Business Line)