The Apollo Hospitals group will set up five more cosmetic clinics in Mumbai, New Delhi, Kolkata and Bangalore in the next few weeks, at an investment of about Rs 30 crore. The group launched the first such clinic in Chennai recently.
Dr Prathap C. Reddy, Chairman, Apollo Group says, “Each of the clinics needed an investment of Rs 5-6 crore sans the real estate cost. Globally, the beauty industry is pegged at $1 trillion, including about $500-billion worth of medical and surgical business. In India, it could be at $2.75 billion.”
Sangita Reddy, Executive Director, Apollo Hospitals, asserted, “The services have been priced between Rs 5,000 and Rs 55,000. Interestingly, demand from rural areas is growing significantly. We have been offering these services for some time and found that 40 percent of the business came from rural areas.”
However, she added, not all cosmetic procedures are covered by insurance policies. “Some procedures performed to correct injury-related and cancer-treatment related scars are covered.”
Posted on: 24.12.2010