Apollo Hospitals Group, in a bid to further expand its healthcare business has firmed up its plans for establishing a presence in Mumbai. Through a joint venture, One Equity Partners, the private equity arm of the J P Morgan, will reportedly be the financial partners for Apollo’s foray into the city. One Equity Partners has invested in Apollo Health Street, Apollo’s healthcare and IT BPO. This venture is viewed as an extension to that association. The Apollo Group plans to build 4-5 medical facilities in the city, which would offer around 2,000 beds within around two years. The group has reportedly acquired land in Navi Mumbai and Thane for its projects. Since most Mumbai hospitals are run by trusts, Apollo is looking at associations as opposed to acquisitions. The new entity, named Western Hospitals Corporation Pvt Ltd, will reportedly look after the Mumbai projects. The group is using the JV route to enter Mumbai, which was the only metro city in which Apollo did not have a presence. The Apollo’s facility at Navi Mumbai is planned as a state-of-the-art, 350-bed hospital for the first phase, which would ramp up to 550 beds thereafter. The Thane project would have around 300 beds. Apollo is looking at associations and tie-ups with existing hospitals to get its 2000-bed target in sight.

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