Apollo Hospitals lines up Rs 2,400 crore investments

Health-care major Apollo Hospitals has lined up investments of Rs 2,400 crore over next three years for expansion plans, which includes setting up 14 hospitals and a Proton Therapy centre for cancer treatment, a senior official said today.

"As part of our overall expansion plans we have planned to open 14 hospitals in the next three years at an investment of Rs 2,000 crore," Apollo Hospitals Group Chief Financial Officer Krishnan Akhileshwaran told reporters here.

Apollo Hosp signs Rs 400 cr deal with IBA for cancer cure

Stating that the company has been setting up two hospitals every three years, Apollo Hospitals Group Chairman Pratap C Reddy said they have expedited the process and are now establishing these 14 hospitals over the next 30 months.

"Some of them are in the final stage of completion." About signing of a contract worth Rs 400 crore with Ion Beam Applications SA for setting up the first Proton Therapy Centre, Reddy said the cancer treatment costs would be from Rs 30 lakh which is 'one-fifth' of the cost offered in the US.

Cost of the equipment would be Rs 300 crore, Akhileshwaran said.

The Proton Therapy Centre is expected to come on two acres of land at Old Mahabalipuram Road near Chennai, he said, adding 'clinical trials' and 'research activities' would be taken up at the Centre.

The Centre is going to be the first of-its kind to offer such services in South East Asia, Africa and Australian region, said Reddy, adding that the facility would have about 70 research scholars.

On the sale of its BPO division Healthstreet, Akhileshwaran said the deal was expected to be completed by next month. "As we hive-off Healthstreet, another Rs 200 crore would be available for us which we can use for our "overall expansion" plans, he said.

Sutherland Global Services last year announced the acquisition of Apollo Healthstreet for a Rs 1,000 crore all cash-deal.