Apollo Health acquires Nova Specialty Hospital
The deal, which is expected to be in the range of Rs 135-145 crores, fits into the growth strategy of AHLL providing it a larger footprint, including in some markets where it has no presence currently
BS B2B Bureau B2B Connect | Chennai
Apollo Hospital at Bengaluru
This acquisition fits into the growth strategy of AHLL providing a larger footprint, including in some markets where the company has no presence currently.
Sangita Reddy, joint managing director, Apollo Hospital Enterprises Limited, said, "AHLL is currently present in the secondary care segment through the day surgery & cradle formats. Given the immense potential and the need for quality healthcare delivery closer to the home, this acquisition will enable AHLL to significantly expand its footprint and will catapult it into a leadership position in this segment of healthcare. We believe the format has strong potential and with the brand equity of Apollo, combined with the deep hospital expertise we bring to bear, AHLL will grow this business significantly in the next few years."
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She added, "There is a strong synergy between Nova Specialty Hospitals format and the tertiary care hospitals and we intend to capture these synergies to the benefit of the patients we serve and doctors we partner with."
The acquisition also marks the entry of Apollo in new markets such as Mumbai, Jaipur and Kanpur. In the coming months, Apollo will re-launch these centres with new branding, an expanded menu of services and quality systems built on Apollo's deep expertise in the hospitals space, Reddy informed.
Neeraj Garg, chief executive officer, Apollo Health & Lifestyle Ltd, said, “AHLL is aiming to create a business of Rs 500 crores in five years in the space of multi-specialty short stay/day surgery centres.”
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First Published: Jan 06 2015 | 1:13 PM IST