The Hindu Business Line : Apollo Hospitals ties up with Saudi group

IN an effort to consolidate its presence in West Asia, the Apollo Hospitals Group on Wednesday announced its tie-up with the Al Hokair Group of Saudi Arabia to set up three hospitals and 20 clinics across the country over the next three years.

According to the terms of the tie-up, the investment, estimated to be around $100 million, will be borne by the Saudi group, while Apollo will provide the technical know-how and run the units. All the units will be named under the Apollo brand. The Apollo Group will charge a one-time project commissioning fee of around $4 million for all the hospitals and clinics and around three per cent of the revenues for running them. The agreement is for a seven-year period and can be renewed on the completion of the term.

"Apollo Hospitals will be closely involved in the operations by providing support in marketing and will monitor the performance of these facilities to ensure that the highest levels of clinical and service qualities are maintained," Dr Pratap C. Reddy, Founder Chairman, Apollo Hospitals Group, said.

Initially, 70-80 per cent of the doctors, technicians and nursing staff would be sourced by Apollo from India and the rest would be Saudi locals. However, over a period of five to six years, the ratio will be reversed, said Dr Reddy.

More Stories on : Alliances & Joint Ventures

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
GHCL to shift Dan River's administrative jobs

ONGC likely to offer gas to Torrent Power's Surat plant

Ranbaxy launches diabetes drug

Indoco Remedies plans US foray with ophthalmic drugs

MICO-Bosch to supply locally made CRDi systems to Suzuki

Gangotri Tex promoters to raise stake thru preferential offer

Suryavanshi Spg defers pref offer

To integrate talent and turn M&As into competitive advantage — Nicholas Piramal on HR revamp exercise

For Kakinada, Barmer refinery projects — ONGC in talks with oil majors for long-term crude supply

Nahar Industrial plans Rs 800-cr capacity expansion

OLHO Technik to set up manufacturing facility in Coimbatore

Bevcon Wayors in pact with Austrian co for `flip-flow' screen tech

Dunlop in talks with global majors for product-specific tie-up — May revive past draft pact with Sumitomo

Apollo Hospitals ties up with Saudi group

Irish beverage major eyes Indian market

RINL wipes out losses

CAs make `misconduct' charge against Lodha