Appollo plans to set up 50 new hospitals across India

KOLKATA - Healthcare chain Apollo Hospitals is planning to set up 50 new hospitals in smaller towns across India in the next five years.

“Our main thrust for the 50 hospitals will be tier II and III cities, which we are planning to achieve in five years,” Apollo Group Chairman Prathap C. Reddy said at the 5th Healthcare East 2010 programme organised by the Confederation of India Industry here Tuesday.

He said Apollo would also pursue its target of including another six hospitals and having 1,800 beds in 12 months.

“For the 1,800 beds, our finances are tied up. We have allotted Rs.1,400 crore as investment, out of which Rs.450 crore is the promoter’s stake, Rs.300 crore is internal accruals and Rs.500 crore is taken from International Finance Corporation (IFC) and other banks,” said Reddy.

Reddy said funds were flowing into health sector and some investors from New York a few weeks ago had shown interest.

Also, there is Tamasek Holdings, Singapore government’s investment arm. “We will sit with Tamasek in next few weeks and finalise the deal.”

He said Apollo was also planning to double its tele-medicine services from 140 to 280.

On the training of the nurses and doctors, Reddy said: “We are training 3,000 nurses and doctors a year and 500 post graduates super specialists. We want to multiply so that we can achieve growth which is chalked out till 2013 financial year”.

Regarding Kolkata Apollo Gleneagles Hospitals, a joint venture between Apollo and the Parkway Group of Singapore, he said, the present capacity of 450 beds could be increased to 500 beds very soon.

There are also plans to set up four hospitals in West Bengal with Kolkata, Siliguri and Asansol as the preferred venue.