Chennai-based Apollo Hospitals plans to invest nearly Rs 1,940 crore to add another 2,955 beds across the country in the next three years.
The healthcare major, which has 37 hospitals in the country at present, plans to add another 14 to take the total number of hospitals to 51 by 2014-15.
“We intend to add 2,955 beds in next three years. The total investment for the expansion would come out to be Rs 1,938.7 crore,” a Apollo Hospitals spokesperson told PTI.
With the addition of 2,955 beds, the total bed strength of the healthcare chain would go up to around 8,800 beds by 2014-15.
Of the total investment, Apollo would be pooling around Rs 1,748.3 crore, while the rest would come from partners in various projects. Apollo has a cash balance of around Rs 250 crore.
“The remaining Rs 1,200 crore would be raised primarily through debt,” the spokesperson said, adding that as of March 31, 2012, the company has already invested Rs 261.6 crore in various projects.
The healthcare provider is setting up hospitals in various places, including Bangalore, Mumbai and Visakhapatnam.
“Two hospitals in Bangalore would be operational by the end of next fiscal. Total investment on these two projects would be over Rs 130 crore,” the spokesperson said, adding these facilities would have a combined capacity of 305 beds.
The company, which has 51 per cent stake in Bangalore- based Imperial Hospital and Research Centre, is also looking to increase it to 100 per cent in the next six months.
“At present, we have 85.8 per cent stake in the centre. It will go up to 100 per cent in the next six months,” the spokesperson said.
The company, however, did not disclose the financial details of the deal citing confidentiality clause.