Apollo arm plans to raise Rs 450 cr to double clinics in 3 years

Apollo Health and Lifestyle (AHLL), a subsidiary of Apollo Hospitals Enterprise, is planning to raise Rs 450 crore by selling the equity in the company. The company aims to double the network of clinics to 150 centres in the next three years by utilising these funds, according to Apollo Hospitals Enterprise joint managing director Sangita Reddy .

Currently, AHLL has around 75 clinics under primary care and specialty care formats across India. Apollo Clinics, Apollo Sugar, Apollo Diagnostics, Apollo White and Apollo Dialysis come under the primary care while Apollo Cradle and Apollo Spectra Hospitals are in the portfolio of specialty care clinics.

Speaking about the expansion plans of AHLL, she said, "We are going to expand the select specialty care formats. At present, we have seven Apollo Cradle Hospitals in the country which we are planning to have 20 hospitals in the coming three years. Also, we would like to expand in tier-III cities including Vijayawada, Guntur and Visakhapatnam."

Apollo had recently announced its plans to raise Rs 200 crore through the issue of non-convertible debentures (NCDs).

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