Apollo Group to invest Rs 1,800 crore

Hospital chain Apollo Group would be investing up to Rs 1,800 crore over the next two years as part of its plan to add 2,000 beds to its inventory, besides expanding its existing facilities.

"We are currently working on a project to add 2,000 beds across the country which will entail an investment of Rs 1,500-1,800 crore over the next two years. We have already added about 500 beds in the last six months," Apollo Hospitals Group Chairman Prathap C Reddy told reporters on the sidelines of a CII medical summit here.

The group would be opening at least one hospital every three months for the next one year, he added.

When asked about the resources for funding the expansion, he said, "We have arranged the entire funding. The group currently has internal accruals to the tune of Rs 400 crore and for the rest we have tied up with various financial institutions."