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Apollo Hospitals expands presence in Kolkata, acquires partly built hospital in Sonarpur

Posted On : 2023-09-27 11:30:54( TIMEZONE : IST )

Apollo Hospitals expands presence in Kolkata, acquires partly built hospital in Sonarpur

Apollo Multispeciality Hospitals Limited, which is a 100% subsidiary of Apollo Hospitals Enterprise Ltd ("Apollo") , India's largest integrated healthcare provider, today announced its acquisition of a partially built hospital in Sonarpur, Kolkata with a total capacity of 325 beds as an asset sale.

The first phase of the hospital with 225 beds built over 1.75 lakh square feet will be commissioned in the next 12 months and will bring Apollo's hallmark levels of care to more consumers in the eastern region by delivering state-of-the-art healthcare across all broad and high-end specialties including a comprehensive Oncology services with Radiotherapy. The acquisition is being fully funded by Apollo Multi Speciality Hospitals through its own internal accruals.

Speaking on the acquisition, Ms Suneeta Reddy, Managing Director, Apollo said, "At Apollo Hospitals, our mission is to bring the best healthcare to all. For over 20 years, consumers in Kolkata and the North-East have trusted Apollo as their care provider of choice due to our unique combination of cutting-edge technology, exceptional clinical talent, and compassionate service. The addition of this new facility is part of our planned capacity expansion across the country and will allow us to serve even more people in the region."

This is Apollo's 2nd hospital in Kolkata, and its location will complement the clinical offering in the flagship hospital in Kolkata. As the 5th hospital in the eastern region, the facility further strengthens Apollo's dominant position as the largest healthcare provider there with over 1800 beds across Kolkata, Bhubaneshwar and Guwahati.

This acquisition an important step in Apollo's strategy to expand in key regions through brownfield and greenfield projects. Apollo will further augment its capacity in the East by an addition of another 700 beds over the next 3 years, taking the total bed count for Apollo in eastern region to 2500.

Shares of Apollo Hospitals Enterprise Limited was last trading in BSE at Rs. 5053.35 as compared to the previous close of Rs. 5095.70. The total number of shares traded during the day was 4801 in over 1256 trades.

The stock hit an intraday high of Rs. 5109.60 and intraday low of 5031.00. The net turnover during the day was Rs. 24293516.00.

Source : Equity Bulls


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