CMP (NSE) 15:54, 30 Jul
Last updated on
10 Jun, 2021
Capital raise to fuel growth
Apollo Hospitals recently concluded QIP of Rs11.7 bn of which Rs4.1 bn will be utilized for acquiring balance 50% stake in Apollo Gleneagles Hospital Kolkata, Rs1.4 bn will be invested in strengthening digital initiatives through Apollo 24/7, Rs1.5 bn towards diagnostics business and balance for any potential inorganic opportunity & reducing debt.
Through these investments management aims to achieve preventive healthcare (ProHealth) revenue of Rs10 bn in the next 3 years, from current Rs2.5 bn. It also aims to scale diagnostics revenues to Rs5 bn in next 3-4 years from current Rs1.6 bn.