Business Daily from THE HINDU group of publications
Friday, Jun 15, 2007
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Business Daily from THE HINDU group of publications Friday, Jun 15, 2007 ePaper |
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Announcements Apollo Hospitals unveils Health City in Hyderabad Our Bureau
Hyderabad June 14 Apollo Hospitals has announced major initiatives in medical research that included the search for "mischief maker" gene that is the cause of abnormal incidence rates of heart ailments in the Asian region. Addressing a press conference to announce the launch of `Apollo Health City' here, Dr Prathap C. Reddy, Chairman of the Apollo Hospitals group, said the 33-acre campus in the city was an integrated health delivery facility, covering a variety of aspects such as prevention, management of diseases, wellness and medical research.
First in Asia
The 300-bed Health City, claimed to be the first in Asia, would comprise centres of excellence in areas such as cardiology, oncology and emergency medicare. The group would invest Rs 100 crore more on the facility to establish some more facilities, which included a 11-storeyed building that would house modern research infrastructure.
Overseas expansion
Dr Reddy said the group was planning to set up hospitals in Fiji, Mauritius and the UK. He, however, said the company had given up the plan for US expansion for now as the market there was overheated, pointing out that the group was always open for an opportunity that was available for the right price. On the health insurance initiative with DKV of Germany, he said the first product of Apollo-DKV Insurance would be out by August-end or early September. The 74:26 joint venture gave a scope for the foreign partner to increase the stake up to 49 per cent. The group was looking at expanding the bed strength from the present 8,000 to 10,000 in the next few years with an estimated investment of Rs 500 crore.
More Stories on : Announcements | Medical Institutions & Hospitals | Research & Development
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