‘Healthcare investment has a multiplier effect on GDP’

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: Prathap C Reddy, chairman of Apollo Hospitals Group, is convinced that India is well poised to meet the healthcare challenges of the millennium and is also equipped with the talent and strength to contribute in further developing the health and economy of the world. His dream is to make India as the healthcare destination of the world. With a new focus on preventive care, the Rs 1,215-crore Apollo Group is going beyond medicine. The company recently announced that Preetha Reddy, MD of Apollo Hospitals, will take over as the heiress of the healthcare power house in a couple of years. The group, which started with a capital of Rs 25 crore in 1983, has spread its wings and set up over 43 hospitals in India, Bangladesh, Yemen and Oman. In an exclusive interview to fe’s BV Mahalakshmi, Reddy points out that the healthcare sector has withstood the downturn and now it’s the turn of the the government to announce a stimulus package for the sector and accord it a priority sector status. Excerpts:

With Preetha Reddy set to take over as the heiress of the group in a couple of years, how would the management of the company look like?

Preetha, my eldest daughter, was appointed as MD few years back and is all set to takeover as heiress as she is the eldest. But my other daughters are no less talented and they are all well-designated to take the group to the next level. My second daughter Sunita is the ED, Finance; Shobana is ED, New Initiatives, and Sangita is ED Operations. As a founder, I will always connect them and advise them on critical issues, which they can also handle independently.

What is your vision for the company in the next few years?

We hope to touch Rs 5,000 crore by 2012. We would be initiating a new concept called Touching a billion lives apart from an expansion plan with an investment of Rs 1,200 crore. This would mean initialising an Apollo Health Highway, roping in tech partners such as IBM and Ericsson. We are in talks with physicians, hospitals and other service providers to provide electronic medical records, which would contain health-related information in a single chip. This is my dream project, which is expected to be kicked off this year.

But what ails the healthcare sector in the country in the first place?