 "Apollo Hospital at Bengaluru")
Apollo Health and Lifestyle Ltd (AHLL), a wholly-owned subsidiary of Apollo Hospitals Enterprise Ltd (AHEL) and a leading player in the retail healthcare segment in India, has received investments of Rs 450 crores from World Bank's arm IFC (International Finance Corporation). This investment will fuel AHLL's expansion plans and fulfil its vision of bringing healthcare of international standards within the reach of 20 million patients each year by 2020.
AHLL will use IFC's equity investment to expand its network of Apollo Clinics (multi-specialty clinics), Apollo Cradle (women & children hospitals) and Apollo Diagnostics centres across India. The investment will create multiple job opportunities across India for healthcare professionals, including doctors, nurses, and technicians.
Currently, AHLL has 72 clinics spread across the country and is aggressively looking at setting up new clinics. It is also expanding its diagnostic division which is already present in all major districts of the southern states and is expanding into East India. Over the next three years, AHLL is looking at adding another 10 cradle hospitals across the country.
"Through this investment, we endeavour to continue Apollo Group's legacy of setting industry benchmarks and contributing to elevate the standard of healthcare to the next level. Given the immense potential and the need for quality healthcare delivery at affordable prices, AHLL will continue to expand through both organic and in-organic means and is committed to enhancing the patient experience and medical care offered by the current network," said Sangita Reddy, joint managing director, Apollo Hospitals Enterprise.
This investment is considered to be one of the largest private equity growth capital investments in the primary healthcare segment in India. Since 2005, IFC has made multiple rounds of debt and equity investments in Apollo Hospitals to help the company with its expansion plans in the country.
IFC is the world's largest multilateral investor in private healthcare, with an active portfolio of about Rs 117 billion of investments. In India, IFC's healthcare investments are over Rs 32 billion, representing 28 percent of its global healthcare portfolio.
