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Apollo Health to invest Rs. 1,400 cr.

NEW DELHI: Medical care provider Apollo Health and Lifestyle plans to invest around Rs. 1,400 crore in the next 3-4 years on expanding its presence across the country with its different formats.

The company will spend Rs. 600 crore in setting up around 30 hospitals in Tier-II cities under the brand ‘Reach Hospitals’ and Rs. 600 crore to increase the number of Apollo Clinics to 300 in 3-4 years. It is also investing Rs. 200 crore on expanding network of maternity hospital chain, Cradle.

“The Reach Hospitals are specifically designed hospitals for the Tier-II cities and some of them would have specialised services such as cardiology or cancer care and each of them would cost around Rs. 20 crore, excluding real estate costs,” Apollo Health and Lifestyle CEO Ratan Jalan said on the sidelines of retail event ‘Franchise India 2008’. Each of these hospitals would have a capacity of around 100 beds and would require an investment of around Rs. 20 crore each, he added.

Mr. Jalan said most of Apollo Clinics would be set up through the franchise mode. They would require an investment of around Rs. 2-3 crore each. — PTI

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