Apollo Hospitals Enterprise said its subsidiary, Apollo Health & Lifestyle plans to invest up to Rs. 500 crore for expansion going forward.
It is also looking to raise funds for the growth through private equity partners, Apollo Hospitals said, without giving any details about the potential investors.
“Apollo Health & Lifestyle Limited (AHLL) is planning to invest up to Rs. 500 crore to fund the growth of the business going forward. It also plans to invite private equity investors to participate in this growth opportunity,” Apollo Hospitals Enterprise said in a filing to BSE.
AHLL has undergone a significant expansion in the past three years and has plans for continued growth and expansion over the next five years, it added.
AHLL operates a network of primary care and special care formats across India.
In the primary care space, it has five formats — Apollo Clinics, Apollo Sugar, Apollo Diagnostics, Apollo White and Apollo Dialysis. It also has Apollo Cradle and Apollo Spectra Hospitals in its portfolio.
Shares of Apollo Hospitals Enterprise were today trading at Rs.1,451 per scrip in the afternoon trade on BSE, down 1.96 per cent from the previous close.