The acquisition is being fully funded by Apollo Multi Speciality Hospitals, the 100% wholly owned subsidiary of Apollo Hospitals through its own internal accruals.
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Apollo said the acquired asset comprise of 1.4 acres land with a partially constructed hospital building with built up area of 74,000 sqft and medical equipments.
The first phase of the hospital with 225 beds built over 1.75 lakh square feet will be commissioned in the next 12 months.
The new hospital will offer high-end specialties including a comprehensive oncology services with radiotherapy.
This is Apollo’s second hospital in Kolkata and fifth hospital in the eastern region.The hospital chain said the facility further strengthens Apollo’s dominant position as the largest healthcare provider in the eastern region over 1800 beds across Kolkata, Bhubaneshwar and Guwahati.Apollo said it will further augment its capacity in the East by an addition of another 700 beds over the next three years, taking the total bed count for Apollo in eastern region to 2500.
“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,” said Suneeta Reddy, managing director, Apollo Hospitals.
India eastern and north-eastern region is seeing lot of action on M&A front, as large hospital chains are expanding in that market with a vast untapped potential. The proximity to Bangladesh that significantly contributes to medical value travel has also been major draw for the large hospital chains to have presence in the market.
Last week Manipal Hospitals has acquired Kolkata-based AMRI for Rs 2300 crore from Emami Group.