Apollo Health receives Rs 450 crore investment from IFC
Hyderabad, Dec 1 (IANS) Apollo Health and Lifestyle Ltd (AHLL), a wholly-owned subsidiary of Apollo Hospitals, Thursday announced receiving investments of Rs 450 crore from International Finance Corporation (IFC) and IFC Asset Management Company.
This investment will fuel AHLL’s expansion plans and fulfill its vision of bringing healthcare of international standards within the reach of 20 million patients each year by 2020, the company said.
Sangita Reddy, Joint Managing Director, Apollo Hospitals said AHLL will use IFC’s equity investment to expand its network of clinics, cradle and diagnostics centres across India. The investment will create multiple job opportunities across India for healthcare professionals, including doctors, nurses, and technicians.
“Given the immense potential and the need for quality healthcare delivery at affordable prices, AHLL will continue to expand through both organic and in-organic means and is committed to enhancing the patient experience and medical care offered by the current network,” she said.
AHLL operates a range of formats that fill the space between home care and tertiary care hospitals. It currently operates multi-specialty clinics (Apollo Clinics), Diabetes Clinics (Apollo Sugar), Diagnostics (Apollo Diagnostics), Dental centres (Apollo White), Dialysis, Women & Children hospitals (Apollo Cradle), Fertility centres (Apollo Fertility) and Surgical Centres (Apollo Spectra) across India, with a presence in 17 states and having over 400 customer touch points.
“AHLL operates across 7 verticals and we have multiplied our network and revenues over the past 3 years. In the next five years, we are looking at growing our revenues significantly and expanding our network,” said CEO Neeraj Garg.
“This investment is probably the largest-ever private equity growth capital investment in the primary healthcare segment in India. It reflects the strength of the team that AHLL has built and the leadership position of its formats.
“We currently serve over 10,000 customers daily, and with this next round of expansion, we shall be able to extend the Apollo brand of clinical expertise and ‘tender loving care’ to many more people in the cities we serve and also extend to new cities,” he added.