Apollo to invest Rs 400 cr to open 3 hospitals by FY15-end

"We plan to open 3 more reach hospitals in the country in the current fiscal year. We will be investing Rs 400 crore for this. This will add 500 new beds to our existing bed capacity," Apollo Hospitals Enterprise Joint Managing Director Sangita Reddy said.

September 02, 2014 / 13:58 IST

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Healthcare major Apollo Hospitals Enterprise plans to add 3 more reach hospitals with a total bed capacity of 500 beds in the country at an investment of Rs 400 crore in the current financial year.

"We plan to open 3 more reach hospitals in the country in the current fiscal year. We will be investing Rs 400 crore for this. This will add 500 new beds to our existing bed capacity," Apollo Hospitals Enterprise Joint Managing Director Sangita Reddy told PTI.

The new hospitals will be in Visakhapatnam, Nellore and Indore, she said.

Also read: Expect 2 hospitals to turn EBITDA breakeven next yr: Apollo

The company has already opened two reach hospitals, one in Nashik and the other in Trichy, she added. Reddy was speaking on the sidelines of an event organised by industry body FICCI on the theme of "Innovation Enabling Access".

When asked how the group plans to fund the expansion, she said: "It will through internal accruals and debt funding." The company will also open 14 more cradles in next 24 months. Apollo cradle focuses on gynaecology, fertility, maternity and antenatal care.