Apollo Group to invest Rs1,800 cr; add 2,000 beds

Apollo Group to invest Rs1,800 cr; add 2,000 beds
PTI
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First Published: Wed, Oct 07 2009. 01 22 PM IST
Updated: Wed, Oct 07 2009. 01 22 PM IST
New Delhi: Hospital chain Apollo Group would be investing up to Rs1,800 crore over the next two years as part of its plan to add 2,000 beds to its inventory, besides expanding its existing facilities.
“We are currently working on a project to add 2,000 beds across the country which will entail an investment of Rs1,500-1,800 crore over the next two years. We have already added about 500 beds in the last six months,” Apollo Hospitals Group chairman Prathap C Reddy told reporters on the sidelines of a CII medical summit here.
The group would be opening at least one hospital every three months for the next one year, he added.
When asked about the resources for funding the expansion, he said, “We have arranged the entire funding. The group currently has internal accruals to the tune of Rs 400 crore and for the rest we have tied up with various financial institutions.”
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First Published: Wed, Oct 07 2009. 01 22 PM IST