Apollo Health to relaunch Nova Speciality as Apollo Spectra

Targets business growth to Rs 500 crore in next five years

Apollo Health and Lifestyle Limited (AHLL), a wholly owned subsidiary of the Apollo Hospitals Group, has said that it is ready to relaunch the recently acquired short-stay surgery hospital chain Nova Specialty Hospitals as Apollo Spectra Hospitals and set a target for revenue growth to Rs 160 crore in FY16. The projected business growth of this business in the next five years is Rs 500 crore, said the company in an announcement.

The company today said that Apollo Spectra will be around 40% of AHLL revenues, at Rs 160 crore, in FY 2016. With nine centres in seven cities including Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Mumbai and Pune and having support of over 700 leading doctors, it is expected to see an expansion to 11 centres by FY 2016, by adding two more centres by the end of the year. The company is planning to focus on streamlining and focusing on its six National Institutes of Excellence.

"We believe this format has strong potential and with the brand equity of Apollo, combined with rich hospital expertise we bring to bear, AHLL will nurture this business significantly in the next few years," Neeraj Garg, Chief Executive Officer, Apollo Health and Lifestyle Ltd

Announcing the plans, he stated that the exclusive surgery center model minimises hospital acquired infections resulting in elimination of unnecessary hospitalization and remarkable medical outcomes. Given the immense potential and the need for quality healthcare delivery closer to home, Apollo Spectra enables AHLL to significantly expand its' footprint and will catapult it into a leadership position in this segment of healthcare.

Nova Speciality, which was acquired by AHLL at a cost of Rs 135-145 crore, currently have a revenue of Rs 140-160 crore.

The healthcare service provider is equipped to undertake over 1100 surgical procedures across all major specialties, said Sudhir Diggikar, director (secondary care), AHLL.

AHLL, which currently runs Apollo Clinics and manages around 100 facilities across the country and in Middle East, also has other formats such as Apollo Sugar Clinics for diabetes management and treatment and Apollo Cradle for women and children care. With the introduction of Apollo Spectra Hospitals, it now completes the spectrum of healthcare delivery, it said.