Apollo to Acquire IFC Stake in Retail Healthcare Arm for INR 1,254 Cr

The deal involves the purchase of over 41 crore equity shares at a floor price of INR 301.09 per share, aggregating to INR 1,254 crore in cash.

Apollo Hospitals has announced the acquisition of International Finance Corporation’s (IFC) equity stake in its retail healthcare subsidiary, Apollo Health and Lifestyle Limited (AHLL), for INR 1,254 crore.

In a filing to the stock exchange, the hospital chain confirmed the execution of definitive agreements to purchase a 30.58 percent equity stake held jointly by IFC, Washington, and IFC EAF Apollo Investment Company (IFC EAF).

The deal involves the purchase of over 41 crore equity shares at a floor price of INR 301.09 per share, aggregating to INR 1,254 crore in cash. The transaction is subject to approval from the Competition Commission of India (CCI).

AHLL, incorporated in 2000, operates multispecialty clinics under the “Apollo Clinics” brand in India and the Middle East. Its services include diabetes management, diagnostics, women's and children's care under Cradle, and centers for planned surgery. In FY2024–25, AHLL reported a turnover of INR 1,553 crore, up from INR 1,365 crore in the previous fiscal.

Following the acquisition, Apollo’s shareholding in AHLL will increase to 99.42 percent, with the remaining 0.58 percent held under the employee stock option (ESOP) pool, making the subsidiary nearly fully owned.

Dr. Sangita Reddy, Joint Managing Director, Apollo Hospitals Enterprise Ltd, said, “IFC has been a valuable partner providing patient capital and facilitated the growth of AHLL.” She added, “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 personalized, accessible, and future-ready.”

Alongside the acquisition, Apollo also announced plans to establish a new 100-bed oncology center in Gurugram, with an investment of INR 573 crore.

The center, part of the Phase 2 expansion of its upcoming 500-bed hospital in the city, will be equipped with proton therapy.

According to the company, this will be Apollo’s third proton therapy installation in India, following Chennai and Hyderabad, and is aligned with its plan to double its oncology business to over INR 5,000 crore within the next three to four years.

Commenting on the oncology expansion, Dr. Preetha Reddy, Executive Vice Chairperson, Apollo Hospitals Enterprise, 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 personalized, precise, and highly effective treatment for cancer patients.”

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