Apollo Hospitals enters Haryana with a promise to develop a world class hospital and healthcare complex
Apollo Hospitals Enterprise Ltd. (BSE: 508869 / NSE: APOLLOHOSP) (AHEL), pioneers in healthcare and India’s first multi-speciality chain of hospitals today announced that it has acquired a hospital asset in Gurugram, situated on hospital zoned
Apollo Hospitals Enterprise Ltd. (BSE: 508869 / NSE: APOLLOHOSP) (AHEL), pioneers in healthcare and India’s first multi-speciality chain of hospitals today announced that it has acquired a hospital asset in Gurugram, situated on hospital zoned land, with a potential of 650 beds over 7 lakh square feet, from Nayati Healthcare and Research NCR Private Limited for a consideration of around Rs 450 crs. The asset was originally sold by DLF Qutub Enclave Complex Medical Charitable Trust in 2011 to the seller.
The acquisition is a momentous milestone in Apollo Hospitals’ stellar journey in healthcare in India, and marks the entry of the group in the state of Haryana. The hospital will establish the group’s presence in the millennium city of Gurugram, one of India’s fastest growing cities, with an aspirational populace, and substantial brand equity for Apollo Hospitals, owing to its existing footprint in the region. The upcoming integrated healthcare complex located on the Golf Course Road at Gurugram would be commissioned in a span of 24 months. It would endeavour to extend advanced clinical solutions and services to the citizens of the state and the country through its experienced faculty and international collaborations and will strongly position the city as an international healthcare destination.
The Gurugram facility would also be at the centre of incubating advancements in digital healthcare, Healthcare accelerators and start-ups and contribute towards the country’s healthcare eco system, propelling the country and the state of Haryana towards leading practices and world-class healthcare.
The Apollo Hospitals group has always worked towards building a fully operating ecosystem in all its geographies, and will accordingly work towards pollinating the benefits of advanced healthcare towards the remotest corners of the state of Haryana and would work closely with the State Government towards meeting the goals and targets put forth by the Government in its health policy vision for the state.
Spread across 5.63 acres of land with 650 potential beds, Apollo Hospitals will offer its truly differentiated clinical programs in key Centres of Excellence, cutting-edge technology, sub-specialities and its inherent Clinical Excellence – not just for the residents of the city, but for all people in the National Capital Region and overseas as well.
Commenting on the development, Dr Prathap C Reddy, Chairman, Apollo Hospitals
Group said, “I am delighted that Apollo Hospitals has added to its presence in the North, a key area of focus for us. We are very grateful to the Government of Haryana for having welcomed us. Apollo as a group has always endeavoured to offer inclusive healthcare across locations where we have been present. We are committed to bringing our proven focus on outstanding clinical outcomes, along with the best of the Apollo Hospitals ecosystem – including preventive health, pharmacies, day surgery centres, birthing centres, primary care facilities and diagnostics, home care, geriatric care, rehabilitation, assisted living etc., all tied together by India’s largest digital healthcare platform, Apollo 24/7 – to foster the seamless delivery of holistic Healthcare in the state, and to position the state as the forerunner in Medical Value Travel. We are also confident that our presence will further boost the local economy, generate highly skilled healthcare as well as allied jobs. We will endeavour to stimulate innovation, and create an unparalleled atmosphere of excellence, research, learning and healing. We look forward to making a significant contribution towards improving the quality of life and the well-being of the citizens of Haryana.”
The transaction has been consummated through AHEL’s 100% subsidiary, Apollo Hospitals North Ltd, and funded using available surplus funds with the group.
The acquisition not only cements a strong footprint for Apollo Hospitals in the North, but most importantly will bring together cutting-edge clinical programs, technology, international and national collaborations and research to deliver best-in-class clinical outcomes for our patients and engender well-being and community health, while stimulating skilled job creation in the local geography.
All necessary approvals for the sale of the hospital asset were obtained from the lenders, shareholders and the courts to facilitate sale of the Gurugram hospital facility to Apollo Hospitals as per regulations.
Atlas Law Partners acted as legal advisors on the transaction for Apollo Hospitals North Ltd while Giriraj Subramanium, Advocate acted as counsel for M/s Nayati Healthcare and Research NCR Private Limited.