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Chennai-based hospital chain major Apollo Hospitals Enterprise Ltd plans to add 600 beds to its existing 8400-bed infrastructure spread across the country during fiscal 2016-17.
The proposed expansion would require an estimated investment of around Rs 600 crore, which the hospital player plans to meet through internal accruals and partly through debt.
"We have laid out plans for greenfield expansions for the current fiscal. Our two big projects will come up in Vishakhapatnam and Navi Mumbai soon. We have also planned next round of expansions," said Sangita Reddy, Joint Managing Director, Apollo Hospitals Group, during a media interaction here.
Reddy further mentioned that the funding requirement for expansions would be met through internal accruals and part of debt. "We are comfortable with our current Deb-to-Equity ratio. And we also have sufficient internal accruals. So the funding will be a combination of debt and internal accruals," she added.
Notably, the Foreign Investment Promotion Board (FIPB) in its meeting held last month had rejected the Apollo Hospitals' proposal to raise funds from overseas.
Meanwhile, Apollo Hospitals is also planning to set up a standalone cardiac care unit in Ahmedabad called Apollo Heart Center. The new Center, to be located in the heart of the city, will be commissioned within 12 months and will be set up with an investment of about Rs 65 crore.
Across India 39 facilities of Apollo Hospitals has such Heart Centers, where the hospital major ties up with local cardiologists and provide heart checkup and treatment closer to the patients.
In Ahmedabad, renowned cardiac surgeon and director of Apollo Hospitals Ahmedabad's Cardiology division, Dr Samir Dani would head the new Center.
"We plan to provide cardiac care facilities at the doorstep of the patients. The Center will be equipped with superior technology used for CT scan by calcium deposits. This will hep study the blockage of vessels and help detect the problem early," said Dani.
Currently such facility is available in Apollo Hospitals in Chennai and Delhi.
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