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K.V. Kurmanath

Hyderabad, March 6 British American Investment Company, the Mauritius-based company with diversified interests, is in talks with the Indian healthcare giant Apollo Group of Hospitals for setting up 40 hospitals across the globe.

“We have proposed a plan to the Apollo group in this regard. They are studying it,” Mr Dawood Rawat, Chairman of BAI, told Business Line.

The company recently formed a 74:26 joint venture with Apollo to set up a $70-million multi-specialty hospital in Mauritius. The joint venture, British American Hospitals Enterprises Ltd, is expected to complete the project in one year.

“We have been approached by several investment companies and investors to carry forward the Mauritius initiative and set up a chain of hospitals across the world,” he said.

Confirming the BAI proposal, Dr Prathap C. Reddy, Chairman of the Apollo Group of Hospitals, said he would be holding a meeting with the investors on the proposal in April. The meeting is scheduled to be held in the UK. The group owns and manages a network of 41 specialty hospitals and clinics with total bed strength of 9,000 in India and abroad. The company also proposes to develop six to seven facilities of 80 beds each in Bangalore, as a hub and spoke business model, by the end of 2010.

Meanwhile, the Apollo Group has firmed up plans to set up 27 new hospitals in tier-II and tier-III cities in the next two years. Of these, five would come up in Andhra Pradesh, according to Ms Sangeetha Reddy, Executive Director of the group.

It hopes to benefit fromthe Budget announcement of granting five-year tax holidays for new hospital projects coming up in tier-II and tier-III cities.

More Stories on : Outlook | Medical Institutions & Hospitals

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