Apollo Hospitals scouting for acquisitions in north and east India

The hospital chain recently got its board's approval to raise up to Rs 1,500 crore and a portion of it will be used for acquisitions

After acquiring IHH Healthcare (IHH’s) stake in Apollo Gleneagles Hospitals, Kolkata (AGHL), Chennai-based Apollo Hospitals is now scouting for some more acquisitions in north and east India. The hospital chain recently got its board’s approval to raise up to Rs 1,500 crore and a part of it would be funded for acquisitions.

According to Suneeta Reddy, managing director, Apollo Hospitals Group, they may not look for greenfield projects now, but they are looking at a few small-ticket acquisitions (like 300 beds in larger cities and 200 beds in smaller ones) to expand its presence mainly in the north and eastern parts