Apollo Hospitals in talks with KKR on fund-raising

Chennai-based hospital major Apollo Hospital Enterprises Ltd (AHEL) has said it saw good synergy with Kohlberg Kravis Roberts and Co (KKR), with whom the promoters are in talks to raise Rs 600 crore.

"We were looking at how we can bring in an investor into our family fund, which is PCR Investment, so that we need not dilute AHEL's stock and still continue to add value. We will conclude it (the deal) gainfully for both and most of the terms have been agreed and it is in the final stage," said Prathap C Reddy, chairman of Apollo Hospitals Group, on the sidelines of an event here recently.

Reddy who refused to discuss the terms, quantum and how the money would be utilised.The hospital chain said it saw some takeaways from KKR as they had invested in Health Care America, one of the largest hospital chains in the US and also in Walgreen Drugs, which is a part of Walmart and one of the largest pharmacy chains.