Apollo Hospitals to add 500 beds this fiscal

Healthcare major Apollo Hospitals today said it will add 500 beds by the end of this fiscal, taking the total bed strength of the group to over 9,000.

"We will be adding 500 beds by the end of this fiscal. We are in the process of adding 2,000 beds in next 24 months," Apollo Hospitals Managing Director Preetha Reddy told PTI on the sidelines of an AIMA event.

At present, Apollo Hospitals has a capacity of over 8,500 beds across 54 hospitals within and outside India.

When asked about the the group's move to hive off its retail pharmacy business into a separate entity, she said: "There are no plans at present. We will do it at the appropriate time."

The company is also mulling setting up three medical colleges in the next five years as part of the plans to expand its medical education venture.

The Chennai-headquartered healthcare chain is already running 11 nursing and hospital management colleges. It has 1,200 pharmacies and over 100 diagnostic clinics across the country.

Shares of Apollo Hospitals today closed at Rs 513.65 on the Bombay Stock Exchange, down 1% from its previous close.