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Apollo Hospitals to invest Rs 3,000 cr for expansion

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In talks with PE firms to raise funds; plans to add 4,000 beds.

Expansion plans:Mr E. Abraham (left), Director, XLRI, Jamshedpur, exchanging an MoU with Ms Sangita Reddy, Executive Director, Operations, Apollo Hospital Group, to train professional hospital managers in Hyderabad on Tuesday. Dr Prathap C. Reddy, Chairman of Apollo Hospitals, is also seen.
Expansion plans:Mr E. Abraham (left), Director, XLRI, Jamshedpur, exchanging an MoU with Ms Sangita Reddy, Executive Director, Operations, Apollo Hospital Group, to train professional hospital managers in Hyderabad on Tuesday. Dr Prathap C. Reddy, Chairman of Apollo Hospitals, is also seen.

Our Bureau

Hyderabad, Aug. 3

Apollo Hospitals will invest Rs 3,000 crore by 2014 to add 4,000 beds. The company is in talks with private equity (PE) players and other financial institutions to fund the upcoming projects.

“Several PE firms and institutions are showing interest to invest in our projects. We have not yet decided on this,” said Dr Prathap C. Reddy, Chairman of the group.

Talking to presspersons here on Tuesday after signing an agreement with management institute XLRI to offer hospital management courses, he said the expansion plan included setting up of 50 hospitals. Stating that the debt-equity ratio of the company could go up to 1:1. “There is no problem for funds,” he said.

Airport project

The group was in talks with an international group to set up a super specialty hospital at an international airport. The idea was to attract patients from abroad by offering them a trouble-free access to the hospital. “We will decide on the partners and the location soon,” he said.

There were reports that the hospital major was in talks with GMR group to set up a hospital at the airport. It had already set up a medical centre at the Rajiv Gandhi International Airport here.

Calling for efforts to put healthcare on the national agenda, he said the country needed to add 3.5 million skilled people every year for the next 20 years.

Tie-up with XLRI

Taken up as part of Apollo's Talent Management Programme, the Apollo-XLRI duo would offer two courses – PG Certificate in General Management and Executive Diploma in General Management and Healthcare. The classes would be delivered through a video link from XLRI's Jamshedpur campus to the six learning centres of Apollo group, Mr E. Abraham, Director of the management institute, said.

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(This article was published in the Business Line print edition dated August 4, 2010)
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