Artemis Medicare Services, a newly floated healthcare subsidiary of the Kanwar family of Apollo Tyres, is proposing to develop a greenfield 216 bed multi-specialty tertiary care hospital in Gurgaon, Haryana. The project aims to address the growing demand for health services in India generally and Gurgaon specifically, one of the rapidly expanding cities in the country.

The Kanwar family had recently announced its plans to foray into the healthcare sector through its subsidiary PTL Enterprises. PTL has floated a special purpose vehicle, Artemis Medicare Services, to set up the super specialty hospital in Gurgaon.

The hospital is being constructed on an 8.3-acre plot in Gurgaon. The proposed structure entails the establishment of 2 blocks, dealing with outpatient and inpatient activities separately, yet connected to allow common use of certain facilities.

The total project cost is estimated at $40 million. Artemis is seeking International Finance Corporation (IFC) investment to a tune of $ 10 million, in the form of a loan.