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Saturday, October 06, 2007

Apollo Hospitals to spend 7 bln rupees on expansion

Apollo Hospitals Enterprise Ltd plans to spend around 7 billion rupees on its expansion plans in the next one year, Chairman Prathap C. Reddy said at a health insurance summit on Friday. The expansion would be undertaken through setting up of greenfield hospitals and acquisitions, he said.

It plans to add 2,000 beds in the country by the end of 2008, to the existing 8,000.

It also plans to enter Mumbai in the next quarter. The group is scouting for land in Mumbai to set up its own hospitals, while also looking for acquisitions.

In Mumbai, acquisitions would mean taking over the management control of trust-run hospitals, Chief Executive Officer, V.P.Kamath, in-charge of the western region, said.

It would be looking to take over medium-sized hospitals with100-150 beds, Kamath said.

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