Apollo Health & Lifestyle (AHLL), a subsidiary of Apollo Hospitals Enterprise (AHEL), is planning to raise up to R450 crore to fund its expansion plans. Besides, AHLL is also looking to dilute about 20% of its equity and is in talks with investors for raising funds which is likely to happen by the end of this fiscal.
“We are looking to raise about R450 crore. We are in talks with global investors and looking at inducting an equity partner. This may require an equity dilution of about 20%,” Sangita Reddy, joint managing director, Apollo Hospitals Enterprise said.
With the board approval in place, the dilution exercise is likely to be completed by the end of this fiscal. Incidentally, IFC had earlier invested in AHEL for expanding Apollo Reach network of hospitals.
“The funds will help AHLL to expand its network and enter new markets,” she said. AHLL operates a network of primary care formats – Apollo Clinics, Apollo Sugar, Apollo Diagnostics, Apollo White and Apollo Dialysis and also two specialty care hospitals – Apollo Cradle and Apollo Spectra.
AHLL runs specialty clinics under the brand Apollo Clinics. “Our first phase expansion has been done. Now, the big focus is on clinics. We will close the deal very shortly,” Sangita Reddy, said.
AHLL aims to increase its total clinics to 150 from the current strength of 75. She said that there are plans to open in new locations and tier-III cities. She said the expansion plan of Apollo Hospitals, which was aimed to take the total bed capacity to 10,000 is almost completed and the company now wants to focus on clinics business expansion for the next three years.
Meanwhile, Apollo Hospitals, announced the seventh chapter of its flagship conference ‘The International Conference on Transforming Healthcare through IT’, scheduled for October 21st and 22nd in Chennai. It is themed on leveraging IT in healthcare and patient safety is a platform to bring forth key developments and success stories wherein technology has been harnessed to improve the overall healthcare ecosystem across the globe. Apollo Hospitals has leveraged IT in healthcare in various aspects like surgical advancements, access to healthcare through ePHCs and through engaging tools like telemedicine, eICUs that has helped the organization service patients residing in remote and rural areas.
According to Medical Council of India (MCI), there are around 9.29 lakh doctors registered in the Indian Medical Register, giving a doctor patient ratio of 1:1,674 against the WHO norm of 1:1,000.
While government bodies and private organizations are trying their best to evaluate and leverage existing manpower and resources for better healthcare access and delivery, few organizations have started migrating towards technology to help tackle this shortage.