Apollo lines up INR 1000 cr for buys in Spain, Peru
Having failed to identify suitable targets in the UK, Apollo Hospitals is eyeing acquisition opportunities in other markets. The company is scouting for opportunities in Spain and Peru and eyeing tertiary level hospitals in both countries. The move will enable Apollo to gain a foothold in the European and Latin American markets. Apollo has drawn up a warchest of Rs 1,000 crore to finance such deals and is open to raising more finance. “These are strategic markets with immense growth opportunities. We’ve identified some targets and a presence there will help us accelerate growth,” Apollo Hospitals chairman Prathap C Reddy told the media. However, the company is yet to give up its search in the UK. “We are still looking for targets but the market is quite complex. It makes little sense to start a greenfield project since getting a license under National Health Service (NHS) is a problem. However, if NHS sells any hospital we might be interested,” Mr Reddy said. Last year, Apollo was eyeing UK’s Capio Hospitals, but eventually lost it to Australian healthcare major Ramsay for
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