Apollo Gleneagles to set up Mumbai hospital

Apollo Gleneagles Hospital, the 50:50 venture between Chennai-based Apollo group and Parkway Group of Singapore, is looking at setting up a multi-speciality hospital in Mumbai.

V Satyanarayana Reddy, chief executive officer of the company, said a decision to this effect would be taken up by this year. The proposed investment in the Mumbai facility will be close to Rs 300 crore (Rs 300.

"As a group, Apollo is not present in Mumbai which is an important market. So we are closely looking at the opportunity there. Gleneagles is also keen to expand its operation in India. So the aspiration of two groups matches well," Reddy said.

Apollo had ventured into Mumbai sometime back with a clinic. But the operation was not successful. It realised the need to have a bigger presence in the city which is dominated by traditional giants such as Tata, Jaslok among others.

At present, AGH runs a multi-speciality hospital and a clinic in Kolkata.

Apollo teamed up with Parkway, leading private healthcare service provider in Asia controlling 70 per cent of Singapore market, after buying out the G P-Goenka controlled Duncan's stake 13 months ago.

Since then, it has invested close to Rs 150 crore (Rs 1.50 billion). Reddy claimed the then sick property has turned around and now it was in growth path.

In fact, AGH has also lined up investment of another Rs 50 crore (Rs 500 million) in Kolkata. It is gearing up for third phase expansion which include setting up of a speciality oncology unit. Apart from that, it is also contemplating a liver transplant unit in the third phase.

"We are talking to a United Kingdom-based NRI specialist in this field to manage the show in the liver unit here. If we go ahead with the plan, another Rs 20 crore (Rs 200 million) investment will be made," he informed. So far, AGH has invested Rs 220 crore (Rs 2.20 billion) in Kolkata facility which has 320 beds.