India’s Apollo to Diversify

Apollo Tyres has diversified into the healthcare sector and is in the final stages of readying its new specialty hospital in Gurgaon, near the capital New Delhi. Named ‘Artemis Health Sciences’ (AHS), the Rs 2.1 billion (£24.6 million) 260 bed hospital is located on an 8.3 acre site, and plans are already in the pipeline for a further 240 beds to be added during a second phase of development.

“This is the first of similar ventures we have planned over the next seven-eight years. We will focus on cardiology, oncology and orthopaedics in these hospitals,” said AHS chief operating officer Somnath Chakarborty told local media.

The second phase of development will reportedly see a further investment of Rs 1 billion (£11.7 million) in the project. The entire hospital facility will be 100 per cent controlled by PTL Enterprises, a subsidiary of Apollo Tyres. Chakarborty said Apollo was planning to open at least 10 further hospitals, most likely in smaller cities, as it is difficult to obtain suitable land in metropolitan areas. “So far, we have decided on four cities,” he said. “In all these cities, at least 200-bed tertiary hospitals will come up under the AHS banner.”

Besides hospitals, AHS is also planning to enter the healthcare education business and proposes to acquire 70 acres of land for graduate and doctoral courses as well as for nursing and a management programme for medical administration.