News: Apollo Hospitals to pursue mergers, buy-outs overseas

(BL 16/02/2007) Hyderabad - The Apollo Group of Hospitals is set to expand its global footprint through strategic partners with some of the local hospital chains overseas while pursuing mergers and acquisitions in the US and Europe. The group is now in pursuit of a UK-based hospital chain in partnership with private equity players. Apollo will provide its management expertise in such deals. The Chairman of Apollo Group, Dr C. Prathap Reddy, said they were actually contemplating pursuit of one of the largest closed deal of a hospital chain, which was eventually acquired for $36 billion. Though we do not have this kind of money, several funds were keen to partner with us in pursuit of similar deals globally, he said. One such deal Apollo plans to pursue is a UK-based hospital chain estimated to be valued upwards of £1.2 billion. Speaking after announcing a tie-up with Hayel Sayeed Group to manage a hospital in Yemen, Dr Reddy said they have had similar offers to manage hospitals in some other countries, particularly Nigeria. And the group is close to finalising a telemedicine project that would provide access to Apollo healthcare to African countries. HEART OF THE MATTER Apollo Hospital and Johns Hopkins Institute plan to work on genetic research in pursuit of `mischief maker' in the genetic composition that leads to heart ailments in Indians. Quoting data, Dr Reddy said that increasingly young Indians are prone to heart ailments and about 50 per cent of the heart problems could potentially occur in India due to smaller vessels in Indians by 2010. The group also plans to step up research and set up an Institute of Nanotechnology and expects to work closely with Institutions like Indian Immunologicals. UK DOCTORS ISSUE Referring to the current crisis faced by about 16,000 doctors in the UK due to changes in EU regulations, Dr Reddy said this was unfortunate and felt that at least some changes need to be brought about so that those who have passed the qualifying examination in the UK could continue to work there.