Apollo Hospitals expansion
Apollo Hospitals on expansion mode
Apollo Hospitals Group, the largest chain of hospitals in the country, intends to build 4-5 facilities in the city to offer around 2,000 beds in about two years, reports NDTV.
It has already acquired land in Navi Mumbai and Thane and is in the project stage.
The group entered into a joint venture (JV) with One Equity Partners, the PE arm of J P Morgan, which will be the financial partners for the project.
A new entity viz. Western Hospitals Corporation will take care of the Mumbai projects. The Navi Mumbai facility is planned as a state-of-the-art, 350-bed hospital in phase one, which will be ramped up to 550 beds soon. The Thane project could have a 300-bed facility.
Shares of the company closed down Rs 3.90, or 0.79%, at Rs 490.00. The total volume of shares traded at the BSE was 11,463. (Friday).
