Apollo Hospitals has announced a Rs 3,435 crore capital expenditure plan to expand its capacity by 2,300 beds over the course of the next three fiscal years. The plan will be financed by debt financing and internal accruals.

According to a statement by the healthcare provider, this expansion plan is in keeping with the objective to increase footprint in strategically chosen places to support ongoing business growth and meet the rising demand for high-quality healthcare services across the nation.

"The Board, based on the recommendations of the Investment Committee, has evaluated and approved an expansion plan of the company involving a balance capital outlay of around ₹34,350 million after reckoning for land/ asset acquisition costs already incurred," it said.

Apollo Hospitals expanded its footprint in East India by acquiring a partially built hospital in Kolkata, with a total capacity of 325 beds. The total bed count in the Eastern region is over l 800, with plans for an additional 700 beds over the next three years, bringing the total bed count in the region to 2500.