Apollo to raise 450 cr via stake sale
As part of its plans to raise funds to expand its clinics business, Apollo Hospitals is planning to dilute some stake in its wholly-owned subsidiary Apollo Health and Life Style (AHLL) for Rs 450 crore, said Sangita Reddy, Joint Managing Director of Apollo Hospital Group.
​Hyderabad: As part of its plans to raise funds to expand its clinics business, Apollo Hospitals is planning to dilute some stake in its wholly-owned subsidiary Apollo Health and Life Style (AHLL) for Rs 450 crore, said Sangita Reddy, Joint Managing Director of Apollo Hospital Group.
“Our major focus now is on the clinics division, which includes Spectra, Cradle and Day Surgery Centres. We are bringing in an equity partner by diluting some stake in AHLL. The money will be raised shortly,” she told reporters on Tuesday.
AHLL runs the largest chain of standardised primary health care models –multi-specialty clinics under the ‘Apollo Clinics’ brand in India and the Middle East, diabetes management clinics ‘Apollo Sugar’ and diagnostic centres ‘Apollo Diagnostics’. The company also operates specialty formats ‘Apollo Cradle’ for women and children and ‘Apollo Spectra’ for planned surgery.
Apollo Hospitals recently said it would raise Rs 300 crore from institutional buyers through allotment of secured redeemable non-convertible debentures. “We will complete the deal by the end of this financial year.
The number of clinics will go to overall 150 from the existing 78 (company-owned and franchisee-run). Cradles will go to 20, from the present seven,” Reddy said, adding that the expansion was expected to be completed in three years.
Meanwhile, Apollo Hospitals will be organising the seventh chapter of its flagship conference ‘The international conference on transforming healthcare through IT’ from October 21 in Chennai. The two-day conference is themed on leveraging IT in healthcare and patient safety.
“A country like India with a huge population demands unique solutions to cater to the rising healthcare demands. This conference will be an ideal platform for knowledge transfer on unique technologies and solutions from key players in IT, healthcare and also policy makers and government bodies to break down challenges, identify solutions and devise an execution plan to make healthcare accessible to all individuals,” Reddy said.
