The Hindu Business Line : Apollo Hospitals in expansion mode

THE Chennai-headquartered Apollo Hospitals Group is planning to invest the $75 million raised through its recently concluded global depository receipts to increase its capacity from the present 6,400 beds to 8,200 beds in the next 18 months. Speaking to newspersons on the sidelines of India Health Summit organised by the CII and Indian Healthcare Foundation, Ms Suneeta Reddy, Group Director - Finance, Apollo Hospitals, said: "There are plans for adding 800 beds through management of hospitals and another 1,000 beds from ownership in the next 18 months." The company is also open to grow through both acquisitions and creation of greenfield facilities.

Ms Reddy said that the locations for the new hospitals would be based on the finding of market research agency IMRB. "We are looking at an all-India presence and IMRB has been commissioned a study by the group on various locations for existing and new facilities for capacities and feasibility," she added. "We have a board meeting on November 24 which would decide the modalities of investments," she said, adding that the investment could be to the tune of Rs 50 lakh per bed in tertiary healthcare facilities and Rs 25 lakh per bed in secondary healthcare centres.

The share prices of Apollo Hospital closed at Rs 459.50, on the BSE, a 15.70 per cent gain over last month's price.

Fiscal sops soughtEarlier, Ms Reddy said that the healthcare industry had sought incentives from the Government to ensure its growth. It has asked the Government to keep the industry out of the purview of the fringe benefit tax (FBT). Other sectors, including the pharmaceutical industry, have sought the exemption.

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