Apollo Investing a Further £50 Million in Healthcare

The Apollo Tyres group has outlined plans to invest a further Rs 4,000 million (£49.78 million) in significantly expanding its recently established healthcare venture, Artemis Health Sciences. These funds would be used to establish five new hospitals in India – four secondary healthcare facilities each containing 150 beds, and a speciality hospital with 220 beds – and at present the company is looking at a number of prospective cities, including locations in Jaipur, Chandigarh, Ludhiana, Vadodara, Coimbatore and Bhubaneswar. These hospitals would be set up in the next three years.

Artemis has already invested Rs 2,000 million (£24.89 million) building a 260-bed hospital in the city of Gurgaon. This facility is expected to be operational by mid-June. Additional future investment will see the number of beds at the Guragon facility, which specialises in orthopaedic, cardiovascular and oncology treatment nearly double to 500 beds.