Apollo eyes stake in Nigerian hospital

Written by Corporate Bureau | Chennai, Aug 27 | Updated: Aug 28 2008, 06:12am hrs
Apollo Hospitals Enterprise Ltd (AHEL) is in talks with a leading hospital group in Nigeria to acquire a stake in it. Infosys has been offered to pick up a 30% stake in the company, but talks are on to increase it further, Preeta Reddy, managing director, AHEL said.

Disclosing this on the sidelines of a press conference to announce the signing of an MoU for the 100th `Apollo Clinic in Chennai on Wednesday, she said, We have been offered to a 30% stake in the Nigerian hospital for a consideration of $12 million. But we feel the stake is not sufficient to scale further, she said, adding that the Nigerian hospital has 250 beds.

Apollo is also planning to set up a greenfield hospital in Ethiopia. We are working on a 250-bed hospital there and may finalise the plans soon, she said. The per-bed cost is estimated to be around Rs 40 lakh, which works out to be a total investment of Rs 100 crore.

According to her, Currently, Apollo is involved in developing eight projects in India. Once completed, we will have a total capacity of 10,000 beds. The projects are expected to be completed by next year, she added.

Earlier, addressing the media after signing an agreement with a Kolkata-based franchisee to set up the 100th `Apollo Clinic at Rajerhat, Pratap C Reddy, chairman, Apollo Hospitals group, said, AHEL is working in association with Tata Consultancy Services (TCS) on introducing Universal Hospital Identify Number (UHID) for all its patients, which will have details of the patients registered on it.

Through this new initiative, doctors can access to all the informations of a patient without going through their documents. According to him, Apollo Health & Lifestyle Ltd (AHLL) will be adding 100 more Apollo Clinics in the next two years.