Apollo Health shortlists private equity firms to raise USD73 mn

 08-Feb-16, The Hindu Business Line

Apollo Health and Lifestyle Ltd, a subsidiary of Apollo Hospitals Enterprise Ltd, has short-listed three private equity firms and expects to close a deal to raise ₹500 crore by March to fuel its expansion plans.

Image: G Ramakrishna

Neeraj Garg, Chief Executive Officer of Apollo Health, told BusinessLine: “The process is at the due diligence stage and we expect to conclude the transaction before the end of this financial year. It may not be right to disclose the names of the PEs now.”

According to sources, the short-listed PEs include KKR, Apax Partners and Carlyle Group.

Apollo Health operates a network of primary care and specialty care hospitals across the formats of Apollo Clinics, Apollo Sugar, Apollo Diagnostics, Apollo White and Apollo Dialysis. Also in its portfolio are Apollo Cradle and Apollo Spectra Hospitals.

While Apollo Diagnostics has 15 labs and 80-plus patient care centres, it plans to launch 200 labs and 1,000 patient care centres over five years in tier 2 cities like Madurai, Tiruchi, Hubli, Visakhapatnam, Kurnool, Rajahmundry and Nashik.

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 Elsevier APAC Healthcare Update