Apollo Hospitals Enterprise (AHEL) in India has announced its plans to acquire International Finance Corporation’s (IFC) 31% equity stake in its retail healthcare subsidiary, Apollo Health and Lifestyle (AHLL).
This move involves a Rs12.54bn ($142m) transaction, making Apollo Health and Lifestyle a wholly owned subsidiary of AHEL. The acquisition requires approval from the Competition Commission of India.
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The definitive share purchase agreements involve Apollo acquiring a 30.58% equity stake held by IFC and IFC EAF Apollo Investment Company.
The deal includes purchasing over Rs410m ($4.64m) in equity shares at Rs301.09 ($3.14) per share.
Post-acquisition, Apollo will hold a 99.42% share, with the remaining 0.58% under the employee stock option pool.
Apollo Health and Lifestyle, incorporated in 2000, operates multispecialty clinics under the Apollo Clinics brand in India and the Middle East.
These clinics offer diabetes management, diagnostics, women and children services, and planned surgery centres. In fiscal year 2024-25, the company reported a turnover of Rs15.53bn ($175.9m), up from Rs13.65bn ($154.6m) the previous year.
Apollo Hospitals Enterprise joint managing director Sangita Reddy said: “IFC has been a valuable partner providing patient capital and facilitated the growth of AHLL.
“By bringing AHLL fully into Apollo’s fold, we are sharpening the business focus across its four verticals and will enable AHLL to scale more effectively, innovate faster, and serve patients with care models that are more personalised, accessible, and future-ready.”
In addition, Apollo Hospitals announced a new 100-bed oncology centre with a Rs5.73bn ($64.9m) investment. The facility will include proton therapy as part of the Phase Two expansion of its upcoming 500-bed hospital in Gurugram, Haryana.
This marks Apollo’s third proton therapy installation in India, following Chennai and Hyderabad, aiming to double its oncology business to over Rs50bn ($566.4m) within three to four years.
Apollo Hospitals Enterprise executive vice-chairperson Preetha Reddy said: “Cancer care is evolving rapidly, and at Apollo, we remain steadfast in our mission to stay ahead of this evolution.
“The introduction of the next generation proton therapy is a significant leap towards personalised, precise, and highly effective treatment for cancer patients.”
This March, Apollo Hospitals announced a strategic collaboration with healthcare technology company Ainnova Tech to integrate AI into disease detection and prediction.
