Apollo Hospitals plans expansion in next two years

Chennai: Chennai-based Apollo Hospitals Enterprise is planning to invest around Rs 1,800 crore over the next two years for building new hospitals. The hospital would fund the expansion plan through debt and equity.

Meanwhile the group's promoters are planning to increase their stake to 39 per cent from the current 32 per cent.

Speaking to reporters in Chennai Suneeta Reddy, executive director – finance and K Padmanabhan, group president, Apollo Hospitals said that the hospital is planning to add 2000 beds over the next two years with an investment of Rs 1,500 to Rs 1,600 crore.

Similarly the group is planning invest around Rs 200 crore through Western Hospital Corporation, a joint venture between Apollo Hospitals and One Equity Partners, the private equity arm of the J P Morgan, in different projects across Mumbai.

The JV partners are planning to build 600 bed hospital in Navi Mumbai and Thane in the next two years.