Apollo Hospitals to invest Rs.1,800 crore in two years

January 29th, 2010 - 11:47 pm ICT by IANS  

New Delhi, Jan 29 (IANS) The Apollo Hospitals chain will invest Rs.1,800 crore to expand its base from a current 46 hospitals to 70 hospitals in two years.
“We have now planned an investment of Rs.1,800 crore over the next 24 months and expect to have bed strength of around 13,500 across 70 operational hospitals in India and overseas markets,” Prathap Reddy, chairman of Apollo Hospitals Group, said Friday.

Reddy said: “By mid-February 2010, Apollo Hospitals will open its 47th hospital in Bhubaneswar with 300 beds, modern diagnostic equipments and super-speciality services, including neonatal ICUs, five operation theaters and eight dialysis beds.”

The Bhubaneswar hospital will be connected to the other national and international centres through a dedicated telemedicine network, he added.

The International Finance Corporation (IFC) recently sanctioned a $50 million term loan to Apollo for its expansion. The first three Apollo Reach Hospitals will soon be operational and the financing for the first phase, that involves setting up of 20 Apollo Reach Hospitals, is in place.

Currently, the company has 8,000 beds, and almost 1000 pharmacies, diagnostic clinics, medical business process outsourcing services, health insurance services, and clinical research divisions with a focus on epidemiological studies, stem cell and genetic research.

Reddy, who was earlier this week named for the Padma Vibhushan award, also thanked the Indian government for recognising him with the honour.

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