Apollo Hospitals enterprise’s subsidiary, Apollo Health and Lifestyle (AHLL), has acquired Nova Specialty Hospitals.
In a deal worth about Rs 135-145 crore, subject to final closure, Nova Specialty’s chain of 11 short stay surgery centres, spread across eight cities, will come under the Apollo Health fold. The acquisition takes the network to 45 modular OTs, 350 patient beds providing in-patient and out-patient facilities. This will also mark the entry of Apollo in new markets such as Mumbai, Jaipur and Kanpur.
The combined turnover will be about Rs 115-125 crore for the year ending March 2015 and Apollo expects to break even in two years.
Apollo Health and Lifestyle is present in the secondary care segment through the Day Surgery and Cradle formats.