### **Overview** Artemis Medicare Services Ltd, launched in July 2007 by the promoters of the Apollo Tyres Group (who hold ~67% ownership), is a leading integrated healthcare provider in India. The company operates a 700+ bed quaternary care, super-specialty hospital in Gurugram (Delhi NCR), recognized as the first in the city to achieve both **Joint Commission International (JCI)** and **NABH** accreditation. Artemis has established itself as a premier destination for high-quality, globally benchmarked medical care, serving a diverse patient base—including over 100 countries for medical value travel. --- ### **Core Operations & Infrastructure** - **Flagship Facility**: The multi-specialty hospital in Gurugram currently operates over **700 beds** across three towers, following phased commissioning of the third tower in FY25. - **Centers of Excellence**: 14 dedicated CoEs across 40+ medical specialties, including Oncology, Cardiology, Neurology, Orthopaedics, and Gastroenterology. - **Technology & Innovation**: - Partnered with **KIMS, Hyderabad** to offer heart-lung transplant services. - Launched India’s first private **Geriatrics & Longevity Department**. - Strategic collaboration with **Abhinav Bindra Targeting Performance (ABTP)** for AI-driven, personalized physiotherapy and rehabilitation. - Upgrading its **Hospital Information System (HIS)** and integrating **AI** for clinical decision-making, precision medicine, diagnostics, and patient engagement. --- ### **Expansion Strategy: Domestic & International** #### **Raipur Expansion (Central India)** - A **300+ bed super-specialty hospital** in **Raipur, Chhattisgarh**, is on track to become operational by **March 2026**. - Key specialties include Cardiology, Oncology, Neurology, and Orthopaedics, with a built-up area of **270,000 sq ft** across two basements, ground, and six upper floors. - **Long-term O&M and Medical Services Agreement** signed; construction is nearly complete, with interior work commencing soon. - **Financial Impact**: Management expects significant uplift in **top line, EBITDA, and EPS within 1.5 years** of launch. - **Revenue Outlook**: Initial **ARPOB (Average Revenue Per Occupied Bed)** is expected at ₹35,000–38,000, targeted to grow to ₹45,000 and eventually ₹60,000. - **Competitive Edge**: Superior infrastructure and strong partnerships with renowned physicians Dr. Agarwal and Dr. Gupta to drive patient inflow. #### **Gurugram Capacity Expansion** - Expansion is occupancy-linked: additional beds will be added within ~one quarter once occupancy reaches **70%**. - Plans to add **100+ beds** immediately and pursue enhanced **Floor Area Ratio (FAR)** approvals for **200 more beds** in the future. - Addition of new towers improving **unit economics**, **economies of scale**, and **operational efficiency**. #### **Delhi NCR Rebuild** - Planning to reconstruct its **Delhi hospital** into a **650-bed state-of-the-art facility**. - Execution subject to fulfillment of **conditions precedent in a binding MoU**, expected by **end-December 2025**. - Timeline: Prioritize **Raipur breakeven**, followed by Delhi operations, then Gurugram expansion. #### **Asset-Light Network Growth** - **Hub-and-Spoke Model**: Smaller facilities — *Artemis Lite* and *Daffodils by Artemis* — act as referral centers for the Gurugram flagship. - **Artemis Lite**: Neighborhood multi-specialty centers expanding in Tier 1 and 2 cities. - **Daffodils by Artemis**: Premium maternity and child-care centers with surgical capabilities; currently 3 operational, with positive patient traction. - New **~100-bed dedicated children’s hospital** planned in Haryana (Delhi NCR), expected in FY25 under an asset-light model. #### **International Expansion** - **Artemis Curepipe Hospital**, an 80-bed facility in **Mauritius**, became operational in FY24. - First of two planned hospitals; second to follow under an O&M agreement. - Strategic entry into **North India** via a MoU with **Dr. Vidya Sagar Kaushalya Devi Memorial Health Centre**. - Exploring further overseas markets for scalable healthcare delivery models. --- ### **Joint Ventures & Strategic Partnerships** - **Artemis Cardiac Care (JV with Philips Medical Systems Netherlands BV)**: - Network of **300+ cardiac centers** planned across India. - Currently operates **8–9 centers**, with plans to open **3–5 new centers annually**. - Targets 25–50 centers within 3–4 years; already served **50,000+ patients**. - Centers located in Tier 2 and Tier 3 cities, offering affordable, high-quality cardiac care. - New unit in **Chennai** scheduled for Q1 FY24. --- ### **Financial & Operational Highlights (As of Nov 2025)** - **Record Financial Performance**: Highest-ever **ARPOB** and strong **EBITDA margins** achieved in recent quarters, driven by improved case/payer mix and scale. - **Bed Capacity Growth**: ~20% YoY increase in operational bed count contributing to temporary dip in occupancy %, but **absolute occupied bed numbers continue to rise**. - **Revenue Mix**: ~30% of revenue from **international patients**, underscoring Artemis’ global reputation in **medical value travel**. --- ### **Funding & Capital Raise** - **Jul 2025 / Aug 2024**: Raised **₹330 crores** (~$39M USD) from **International Finance Corporation (IFC)** via **compulsorily convertible debentures (CCDs)**. - **Purpose**: Fund **quaternary and super-specialty care expansion** across Delhi NCR and Tier 2 cities (greenfield and brownfield projects). - Capital supports both **asset-heavy** (hospitals) and **asset-light** (Lite, Daffodils, Cardiac) growth models. --- ### **Key Strengths** - **Brand & Accreditation**: First JCI-accredited hospital in Gurugram; trusted by international patients and corporates. - **Strategic Alliances**: Partnerships with over **100 corporates**, Philips, KIMS, IFC, and ABTP. - **Doctor & Talent Attraction**: Strong brand equity attracts leading specialists. - **Multi-Pronged Growth Strategy**: Combination of **flagship scaling, hub-and-spoke model, JVs, and global expansion**. - **Financial Discipline**: Focus on unit economics, margin improvement, and capital efficiency. ---