Apollo Health & Lifestyle (AHLL), a subsidiary of Apollo Hospitals Enterprise announced the plans of investing upto Rs. 5 billion to fund the growth of the business.

The company said, "AHLL has undergone a significant expansion in the past 3 years and has plans for continued growth and expansion over the next 5 years."

"Apollo Health & Lifestyle also plans to invite private equity investors to participate in this growth opportunity," it added.

AHLL operates a network of primary care and specialty care formats across India. In the primary care space, it currently has 5 formats - Apollo Clinics, Apollo Sugar, Apollo Diagnostics, Apollo White and Apollo Dialysis.

It also has Apollo Cradle and Apollo Spectra Hospitals in its portfolio.

AHLL operates in a large and rapidly growth healthcare market with a portfolio of formats that have strong synergies amongst themselves and enable Apollo to provide a continuum of care to patients.

Shares of the company declined Rs 31.3, or 2.11%, to trade at Rs 1,448.75. The total volume of shares traded was 6,108 at the BSE (1.49 p.m., Thursday).