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regular-article-logo Wednesday, 20 November 2024

Apollo Hospitals to spend Rs 6100 crore under new expansion plan

The healthcare provider has entered into a definitive agreement to build and operate a 500-bed hospital that will come up at Worli, Mumbai

Our Special Correspondent Mumbai Published 03.11.24, 12:14 PM
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Apollo Hospitals has announced big expansion plans that envisages the addition of 3,512 capacity beds over the next four years at 11 locations in the country for an estimated cost of 6,100 crore.

As part of this plan, the healthcare provider has entered into a definitive agreement to build and operate a 500-bed hospital that will come up at Worli, Mumbai.

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Apollo Hospitals said in a statement on Friday that along with its existing multispecialty facility in Navi Mumbai, and its clinics network, the proposed hospital in Worli would see it catering to every healthcare need.

The proposed capacity expansion will be undertaken through a build-operate-manage project, to be established under an ‘unnati agreement’ executed with Konkan Mitra Manda I (KUMM) on around1. 7 acres of land.

KUMM is a public trust registered under the Maharashtra Public Trusts Act, 1950 and also registered as a society under the Societies Registration Act, 1860.

Apollo Hospitals said in a regulatory filing that the facility will have additional beds to meet charity commissioner rules for indigent and weaker sections of the society and facilitate KUMM in achieving its charitable and social objectives as well.

The hospital is expected to be operational in four years and it will integrate advanced diagnostic screening, state-of-the-art surgical care, including cutting-edge robotics-and cardiology, exceptional comprehensive high-end therapies across specialties such as oncology, gynaecology, neurology, orthopaedics and intensive care.

Apart from the Mumbai facility, Apollo Hospitals is also expanding its existing hospital facility in Lucknow to 500 beds by adding another 200 beds, to be developed on their recent acquisition of 1.2 acres of land adjacent to their existing facility.

This expansion is set to be complete and operational in three years. The firm added that following these two additions, it has plans to add over 3,512 capacity beds across 11 locations in India. Of the total estimated project cost of 6,100 crore, over 1,700 crore has been already spent on land acquisition, security deposits, project development as applicable.

The remaining project costs expected over the next 3-4 years will be funded through existing funds and internal accruals.

“Our mission is to make world-class healthcare accessible to every Indian, and our expansion strategy is a testament to that promise. By bringing in leading clinicians and the finest technology, we aim to elevate healthcare standards and set new benchmarks,’’ Prathap C. Reddy, founder and chairman, Apollo Hospitals, said while commenting on its expansion plans.

“With our expansion in Mumbai and Lucknow, we’re taking a significant step forward in our commitment to making top-quality healthcare accessible across India.

“These new facilities strengthen our footprint in strategic locations, catering to the growing demand for excellence in healthcare. They will serve as touchpoints for next-generation healthcare practices and treatments that set a new benchmark in the industry, ensuring the best is within reach for all.

“With these two additional expansions, we now have plans to increase our overall capacity beds by over 3,500 over the next four years beginning 2025-26,’’ Suneeta Reddy, managing director, Apollo Hospitals, added.

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