Apollo Hospitals Enterprise Ltd.

Apollo Hospitals Enterprises is reportedly in advance stage of negotiations to acquire a Chennai-based Lifeline Hospitals. The contour of the transaction involves Apollo entering into a long term lease agreement to manage Lifeline.

Initially, Apollo will lease the property spread across 1 lakh sqft, while post acquisition, Apollo could explore the possibility of a full-fledged acquisition after running it for a couple of years. The company is expected to pay up to Rs 62 per sqft a month - that is Rs 7.4 crore a year as the lease value for a property that was estimated to cost Rs 170 crore.

Apollo Hospitals Enterprise, is the leading private sector healthcare provider in Asia and owns and manages a network of speciality hospitals and clinics, a chain of Pharmacy retail outlets across the country, and provides Consultancy Services for commissioning and managing the Speciality Hospitals.