HDFC, Apollo plan hospitals in Mumbai
Housing Development Finance Corporation (HDFC) may join hands with Apollo Hospitals to set up two-three super-specialty hospitals in Mumbai. The Pratap Reddy-promoted Apollo is planning to invest about Rs 200 crore in each project. A senior executive of Apollo Hospitals said a few financial institutions, including HDFC, have expressed interest to partner the group in setting up the hospitals in Mumbai.
Industry sources said HDFC is in the final stages of negotiations with the Apollo group to collaborate for the projects. "Though the partnership has not yet been finalised, it is likely that HDFC Realty may build and own the infrastructure for the hospitals," they added.
Sources in Apollo group said locations for the 400-bed hospitals are being finalised. A possible location might be in Navi Mumbai.
Apollo Hospitals is present in most metropolitan cities in India including New Delhi, Kolkata, Chennai, Ahmedabad, Hyderabad and Bangalore with super-specialty hospitals. It, however, has no presence in Mumbai.
The group, currently the largest private hospital group in Asia, has over 28 hospitals in major cities across India and abroad with 6,400 beds. As part of the Asia expansion, the group set up its first overseas hospital in Dubai in 1999 followed by Colombo in 2000. It is now planning to set up specialty hospitals in Africa, Bangladesh, Oman and Saudi Arabia.
The group had recently signed a memorandum of understanding with Johns Hopkins Medicine International to develop the latest concepts, technology, tests and operating systems in healthcare services, clinical research and medical education.