The Hindu Business Line : Apollo to invest Rs 2,000 cr in next five years

Ahmedabad, Oct. 13 Apollo Hospitals International Ltd will invest Rs 2,000 crore in the next five years in developing reach hospitals, high-end hospitals and knowledge centres, said Ms Preetha Reddy, Managing Director.

Around five high-end hospitals and 15-25 reach hospitals have been planned for the next few years. Knowledge centres, like the one set up in Andhra Pradesh, will be set up. In Gujarat itself, a paramedic college and a nursing college have been planned, said a senior official.

“The paramedic college will come up at the existing facility in Gandhinagar while 25 acres of land has been bought near Dholka for the nursing college,” he said.

The number of seats is expected to be 50 to 100 depending on the Nursing Council, he added.

Pooling Investments

The investment of Rs 2,000 crore will be raised through a mix of equity, debt and partnerships.

“Last year, Apax came on board with 13.5 per cent equity stake in Apollo and as of now, there are no plans to raise that,” said Ms Reddy.

The chain of hospitals is also looking to tap into the $40 billion (projection by 2010) global medical tourism market, but admits that India commands a share of less than 10 per cent of the global pie. “The Government needs to take a lot of infrastructural initiatives if it is serious about medical tourism.

Malaysia and Singapore could do it, so why not us?” asked Ms Reddy.

The hospital chain is opening a hospital at Mauritius next year, at an investment of Rs 120 crore. Apollo has around 40 hospitals in four countries and a network of 800 pharmacies. It plans to set up around 200 hospitals by 2011.

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