Apollo buys partially built hospital in Sonapur for Rs 102 crore

Apollo Multispecialty Hospitals Limited, a wholly owned unlisted subsidiary of Apollo Hospitals Ltd., has acquired the assets relating to a partially built hospital in Sonapur, Kolkata, from Future Oncology Hospital and Research Centre. This is a cash transaction for Rs 102 crore according to the press statement released by the company to exchanges on September 27.

The hospital has a total capacity of 325 beds currently as an asset value. 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 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 service with radiotherapy, according to the press statement.

At 12:58 pm, Apollo Hospitals was trading at Rs 5,100, up 0.92 percent from the previous close in the NSE.

This is Apollo’s second hospital in Kolkata, and its location will complement the clinical offering in its flagship hospital in the city. The acquisition is being fully funded by Apollo Multi Specialty Hospitals through its own internal accruals.

“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, in a press statement.

Shares of the company was trading marginally down at Rs 5039.10 at 10.47 am on NSE on September 27 from previous day’s close. Moneycontrol