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Sanofi, the French healthcare giant will invest Rs 90 crore into Apollo Sugar Clinics Limitd (ASCL), a diabetes care focussed chain of Apollo Hospitals Group.
Sanofi-Synthelabo (India) Limited will make the investment in the venture through a combination of primary and secondary funding, Apollo Hospitals the Chennai-based Group informed the BSE today.
ASCL has built up a chain of 26 specialty clinics across the country as on date. A subsidiary of Apollo health & Lifestyle, ASCL is setting up disease management clinics focussed on providing high quality, integrated care across its clinics for people with diabetes.
Commenting on the collaboration, Apollo Hospitals Group Founder and Chairman Prathap C Reddy said: "This is a good start towards diabetes management programme in India and I am delighted to be partnering with Sanofi, a global leader in diabetes management. With this investment Apollo Sugar Clinics is even better positioned to offer patients advanced care and counselling for diabetes management".
The CEO of ASCL, Gagan Bhalla said the plan is to enlarge the chain to 50 clinics this year. In the next few weeks, at least five more will become operational. Part of larger expansion is to set up clinics in the middle east, especially Muscat and Qatar.
In India, diabetes afflicts over 65 million citizens and in addition to this over 77 million people have been diagnosed as pre-diabetic. The total number of diabetics is expected to rise to 109 million by 2035.
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