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A subsidiary of Apollo Hospitals buys a 325-bed hospital in Kolkata for Rs 102 crore

Sep 28, 2023

By: BlinkX Research Team

Apollo Hospitals Enterprises stated on Wednesday (September 27) that its subsidiary, Apollo Multispeciality Hospitals, purchased a hospital in Kolkata for Rs 102 crore in an all-cash transaction. This hospital is still being built.

As part of the agreement, Apollo Hospitals' wholly-owned subsidiary would receive 1.4 acres of land on which stands a partially constructed hospital facility with a built-up size of 74,000 square feet. It will also receive medical equipment, according to a stock exchange filing.

The hospital, which is still under construction, has a total capacity of 325 beds. Future Oncology Hospital and Research Centre owns the site in Sonapur.

The deal would be funded through internal accruals of Apollo Multispecialty Hospitals.

According to Apollo Hospitals, the first phase of the facility, which will have 225 beds spread across 1.75 lakh square feet, will open in the next 12 months.

The hospital will serve patients in the eastern area by providing healthcare services in a wide range of broad and high-end specializations, including oncology services with radiation.

“The addition of this new facility is part of our planned capacity expansion across the country and will allow us to serve even more people in the region," says Suneeta Reddy, Managing Director, Apollo Hospitals.

This is Apollo Hospitals' second location in Kolkata and its fifth in India's eastern region. According to the company, the site will complement the clinical offerings of the current hospital in Kolkata.

The company has 1,800 beds at hospitals in Kolkata, Bhubaneswar, and Guwahati in eastern India. It intends to increase capacity in the region by 700 beds over the next three years. This brings the total number of beds in the region to 2,500.

With over 10,000 beds spread over 71 hospitals, approximately 6,000 pharmacies, and over 200 clinics and diagnostic facilities, Apollo Hospitals is India's biggest comprehensive healthcare network. It also runs 150 telemedicine clinics.