The Gurgaon-based Artemis plans to use the proceeds of the fund raise to increase bed capacity, and introduce advanced specialty services. It is also looking to set up cardiac care centers, expand in tier 2 and 3 cities and in Delhi NCR region through a combination of brownfield and greenfield opportunities.
“We are already in advanced stages of adding 200 new beds through our brownfield expansion in our flagship hospital,” said Onkar Kanwar, chairman, Artemis Medicare.
“This investment will allow us to further expand our coverage in Delhi NCR and select tier 2 and 3 cities,” he added.
Established in July 2007, Kanwar and his family who are also the promoters of Apollo Tyres own 68% in Artemis.
Artemis operates a total of 713 beds predominantly in the Delhi NCR region, including a 541-bed super speciality hospital based in Gurugram and five hospitals under the Artemis Lite and Daffodils brands.Additionally, the Company runs seven centres under the Artemis Cardiac Care brand in a joint venture with Philips.Artemis ended FY24 with gross revenues of Rs 922 crore and a net profit of Rs 49 crore.
Shares of Artemis rose 2.48% to end at Rs 187.75 on BSE on Thursday.
