1. Expansion in mind, Apollo Hospitals to raise funds

Expansion in mind, Apollo Hospitals to raise funds

The Apollo Hospitals Group is planning to raise fresh funds to fund its expansion both in domestic and overseas markets and will be seeking the board's approval for the same.

By: | Hyderabad | Published: October 4, 2015 12:00 AM

The Apollo Hospitals Group is planning to raise fresh funds to fund its expansion both in domestic and overseas markets and will be seeking the board’s approval for the same. The funds will be used for acquisitions, new projects in India and also to strengthen abroad.

“We are looking at the next phase of expansion both in India and overseas markets. We may look at raising funds and are talking to investors. We have a board meeting during the month end and will seek shareholders approval for raising funds,” Prathap C Reddy, chairman, Apollo group, said after announcing the group’s foray into the homecare segment.

“We have invested over R1,800 crore in the past three years. This includes an investment of R1,400 crore for setting up four new hospitals at Bengaluru, Vizag, Mumbai and Guwahati, opening up new clinics and launching homecare services. With the addition of new hospitals, the total bed strength is expected to be 10,000 from the present level of 9,000 in the next four to five months,” he said. Though the company did not disclose the size of the fund, sources in the know say the company is likely to raise over R1,000 crore fresh funds and is in talks with a few foreign investors.

“We have plans to build hospitals outside India and are looking at different formats across various geographies. But our primary focus is the Indian market and we may look at acquiring some hospitals to increase our bed strength,’” Sangita Reddy, joint MD, Apollo Hospitals, said.

Meanwhile, the Apollo Hospitals Group has launched Apollo Homecare services in Hyderabad, Delhi and Chennai. The healthcare major has created a separate division for homecare services and plans to ramp up its services to 13 more cities by next year. The new initiative aims to provide end-to-end, professional home healthcare through home visits, home partnerships and home nursing programmes. Apollo Homecare will expand its operations to all tier-I cities by the end of this year and spread to 13 tier-II cities by the end of next year.fe Bureau

Hyderabad, Oct 3

The Apollo Hospitals Group is planning to raise fresh funds to fund its expansion both in domestic and overseas markets and will be seeking the board’s approval for the same. The funds will be used for acquisitions, new projects in India and also to strengthen abroad.

“We are looking at the next phase of expansion both in India and overseas markets. We may look at raising funds and are talking to investors. We have a board meeting during the month end and will seek shareholders approval for raising funds,” Prathap C Reddy, chairman, Apollo group, said after announcing the group’s foray into the homecare segment.

“We have invested over R1,800 crore in the past three years. This includes an investment of R1,400 crore for setting up four new hospitals at Bengaluru, Vizag, Mumbai and Guwahati, opening up new clinics and launching homecare services. With the addition of new hospitals, the total bed strength is expected to be 10,000 from the present level of 9,000 in the next four to five months,” he said. Though the company did not disclose the size of the fund, sources in the know say the company is likely to raise over R1,000 crore fresh funds and is in talks with a few foreign investors.

“We have plans to build hospitals outside India and are looking at different formats across various geographies. But our primary focus is the Indian market and we may look at acquiring some hospitals to increase our bed strength,’” Sangita Reddy, joint MD, Apollo Hospitals, said.

Meanwhile, the Apollo Hospitals Group has launched Apollo Homecare services in Hyderabad, Delhi and Chennai. The healthcare major has created a separate division for homecare services and plans to ramp up its services to 13 more cities by next year. The new initiative aims to provide end-to-end, professional home healthcare through home visits, home partnerships and home nursing programmes. Apollo Homecare will expand its operations to all tier-I cities by the end of this year and spread to 13 tier-II cities by the end of next year.

 

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