Apollo Hospitals to invest $394 mn in 4 yrs

Apollo Hospitals Enterprise Ltd (AHEL) is planning to spend $394 million over four years for adding 2,900 beds to its hospitals network and equipment purchases for existing hospitals. It is also planning to establish presence through clinics, information centres and telemedicine centres in Uganda and Tanzania, according to company sources.

The hospital network is raising funds of about $60 million from International Finance Corporation (IFC) to support future investments.

At present, AHEL has over 8,500 beds across 54 hospitals within and outside India. The projects in pipeline include three hospitals in Greater Mumbai, five hospitals, including a Reach hospital in Ayanambakkam, Nashik, Nellore and Trichy, and expansion of the main hospital in Chennai.