Apollo looks to add 1,370 beds for Rs 1,555 cr by FY19

Healthcare major Apollo Hospitals Enterprise is looking to add 1,370 beds at six locations with a total estimated project cost of Rs 1,554.9 crore by 2018-19 as part of its expansion plan in the country.
The total capex estimated for this expansion plan is Rs 1,555 crore, of which an investment of Rs 724 crore has already been made, Apollo Hospitals said during an investor presentation.
"The balance will be invested by a mix of internal accruals and the proposed rights issue," it added.
In the first phase, 895 beds at four locations will be added in the current fiscal -- 180 beds in North Bangalore, 400 in Navi Mumbai, 65 in Indore and 250 in Vizag, Apollo Hospitals said.

Another 475 beds in will be added in 2018-19. Out of this, 175 will be in South Chennai and 300 in South Mumbai. All 1,370 beds will be in super specialty hospitals, it added.
"Focus now is on operationalising the new capacity and growing and consolidating our leadership position in these markets in the next 18-24 months," Apollo Hospitals said.

In May this year, the board of Apollo Hospitals had approved the proposal for a rights issue to its shareholders for an amount not exceeding Rs 750 crore.
Apollo Hospitals currently has 64 hospitals, with a total capacity of 8,985 beds as on September 30, 2015. Out of these, 7,123 are in 40 company-owned hospitals, including JVs/ subsidiaries and associates.

It has eight managed hospitals with 1,434 beds, 11 day care/short surgical stay centres with 306 beds and five cradles with 122 beds.