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Apollo Hospital likely to buy Lifeline

Chennai,Feb 24 () : Lifeline Multi Speciality Hospital located at Perungudi, a suburb in Chennai is to be taken over by Apollo Hospital Enterprises Ltd (AHEL). Lifeline Group of Hospitals is to disinvest a portion of the stocks in Lifeline Multi Speciality Hospital.

Perungudi, a hub of industrial activities and IT firms has only this hospital as a lifeline. Apollo Hospital has two multi-speciality hospitals inside the city and a third one in Tiruvottiyur (suburb in North Madras). By acquiring the Lifeline hospital it would get a footprint in south-east Chennai.

The Lifeline hospital is technically located in Kanchipuram district. Lifeline hospital’s Perungudi branch is a 225-bed unit with 125 beds being currently in use. Both the companies are close to signing the deal. Earlier a major hospital chain Fortis Malar was in talks with Lifeline.

Lifeline Group with funds from the disinvestment is expected to expand in other parts of the metro. Valuation of assets and its financial turnover is under progress. The Lifeline hospital was founded by Dr J S Rajkumar.

Apollo had decided to add 15 more hospitals to the chain spread all over India. It has fully owned 36 hospitals out of 49. Among this, some are either JV or associates and has 5,982 beds. Thirteen hospitals are managed by Apollo and this adds another 2,038 beds to the tally.

Apollo is to increase the number of beds in the present hospitals and also go in for JV in functional hospitals in regions where it does not have a footprint.

Apollo Hospital was founded by Dr Pratap Reddy in 1983. Today it is the only hospital chain to get JCI accreditation for seven hospitals. With 49 hospitals in India, the group has a 450 bed JCI accreditation hospital in Dhaka and another one in Mauritius.