Apollo to invest Rs 1K cr for setting up 15 hospitals

Apollo to invest Rs 1K cr for setting up 15 hospitals
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First Published: Wed, Apr 30 2008. 03 45 PM IST
Updated: Wed, Apr 30 2008. 03 45 PM IST
PTI
New Delhi: Medical care services provider Apollo Hospitals group said on 30 April it will invest about Rs1,000 crore in the next 18 months to set up 15 hospitals in tier-II and tier-III cities in India.
The hospital chain, which seeks to expand overseas, is also planning to re-enter Sri Lanka besides expanding operations in Africa.
“The idea is to set up tertiary hospitals in tier-II and tier-III cities, we plan to set up about 15 hospitals in next 18 months with an investment of about Rs1,000 crore,” Apollo Hospitals Group chairman Prathap C Reddy told reporters here on the sidelines of CII annual session.
He said on average these hospitals would have around 200 beds and in the next 18 months, the group is looking at 10,000-bed capacity.
Commenting on overseas expansions, Reddy said, the group is planning to re-enter Sri Lanka again.
“We have written to the Sri Lankan government and this time around, we will have 51% or more stake,” Reddy said.
Apollo hospitals earlier had operations in Sri Lanka in which they had minority stake and it had to abandon the project following the takeover by Sri Lankan business tycoon Harry Jayawardene.
On the groups plan in Africa, Reddy said Apollo is looking to have presence in five African countries including Nigeria, Tanzania, Angola, Ghana and Uganda.
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First Published: Wed, Apr 30 2008. 03 45 PM IST
More Topics: Apollo Hospitals | Sri Lanka | Expansion | Africa | CII |