December 18, 2007

Apollo Hospitals to invest Rs 600 cr in tier II cities

Apollo Hospitals has chartered out a massive Rs 600-crore expansion plan to make its presence felt in tier II cities.

Apollo Hospitals MD Preetha Reddy told ET, “We have finalised our decision to enter the tier II cities. Initially, we would come up with 10 hospitals across the nation.”

The company would come up with 150 to 200 bed capacity hospitals in tier II cities across the length and breath of the country and is under the process of identifying locations for the proposed hospitals. Ms Reddy said that the management would invest Rs 50-60 crore in each of its hospital.

Apollo had appointed a US-based consultant company specialised in healthcare projects for drafting the nitty-gritty of its entire plans. “In total, we would be investing Rs 600 crore for our 10 hospitals in the tier II cities,” said Ms Reddy. The funding would be a mix of equity and debt. However, the ratio is still being worked out.

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