Financial Daily from THE HINDU group of publications
Thursday, Nov 20, 2003
Financial Daily from THE HINDU group of publications Thursday, Nov 20, 2003 |
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Corporate
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Alliances & Joint Ventures Apollo Hospitals, Parkway keen on more jt ventures Jayanta Mallick
Kolkata , Nov. 19 AFTER successfully setting up a 350-bed hospital here, Apollo Hospitals group and the Singapore-based The Parkway Group is considering extension of their joint venture. The Rs 225-crore hospital of the joint venture — Apollo Gleneagles Hospital Ltd, is in operation and will be formally dedicated to the nation by the Vice-President, Mr Bhairon Singh Shekhawat, tomorrow. Dr Prathap C. Reddy, Chairman of the Apollo Hospitals Group, and Mr Joshua Goh, Director, Apollo Gleneagles Hospital Ltd, confirmed that both the groups were studying opportunities to expand. Further joint ventures could be set up in India and also abroad. Asked about the possibility of collaborative ventures in West Asia and Africa, Dr Reddy said that at the moment no specific proposal had been finalised, but he did not rule out such a possibility in the future. Mr Goh, who represents The Parkway, said: "Shortly, we will sit across the table and sort out the projects. In the last one-year we have been working hand-in-hand for the Kolkata hospital. Our joint endeavour has been an excellent experience. Based on this, we look forward to working together on other projects also." "In the terms of the business model to be followed in the hospital, The Parkway Group's emphasis is on the membership model, while Apollo is geared to health insurance model," Mr Goh mentioned. He felt that India was better poised to attract healthcare tourism from other Asian countries, Europe and the North America. Dr Reddy said that Apollo Hospitals currently had arrangements with 15 overseas insurers for emergency medical care. "We are now working towards achieving the standards accepted in the US and the UK. Once this will be through, we will get recommendations from the overseas insurers for any treatment," he added. In that scenario, flow of overseas patients, particularly from Europe and North America will increase manifold for our cost and time advantage. Currently, in certain cases, a patient in the UK or the US has to wait for 2-3 years to get admitted into a hospital for treatment, Dr Reddy said.
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