The joint managing director of Apollo Hospitals, Suneeta Reddy has said that Apollo Hospitals entered into an agreement to buy out Imperial Hospital's stake in Bangalore hospital-cum-research facility for about Rs. 100 crore.

Notably, Apollo Hospitals earlier invested around 30 crore rupees and acquired 51 per cent stake in Bangalore hospital-cum-research facility. Now, the group will acquire the complete stake by spending up to Rs. 100 crore. As of now, Bangalore hospital-cum-research facility has 250 beds and it is likely to be extended to 500 beds.

Further, Apollo Hospitals is even planning to build two hospitals in Bangalore and Chennai each. While 180 beds’ hospital will be built at Jayanagar in Bengaluru, 45 beds’ hospital would be set up in Chennai.

Elucidating the expansion plans, Suneeta Reddy has said that Apollo Hospitals was planning to add up 2,995 beds across 14 hospitals. She has even said that there are currently 37 hospitals owned by them and the number would likely be increased to 51.

It may be noted that Apollo Hospitals is one of the most trusted names in health care industry in India.
(Phani)