Apollo Tyres to set up Rs 250 cr hospital

Apollo Tyres Group today announced its foray into the healthcare sector with a 500-bed hospital in Gurgaon with an investment of Rs 250 crore.

Christened Artemis Health Sciences Pvt Ltd, the healthcare arm of Apollo Tyres would be a wholly-owned subsidiary of PTL Enterprises Ltd and will have diverse interests in medical education, research and manufacturing of medical accessories.

The Gurgaon hospital, Artemis Health Institute, would be a multi-superspeciality facility with specialisations in oncology, cardio-thoracic and musculo-skeletal diseases.

"The company would invest Rs 250 crore for the entire project, of which the phase I would be completed in the next 18 months with an investment of around Rs 145 crore", said Apollo Tyres' Chairman and Managing Director, Onkar S Kanwar.