Apollo Hospitals

Apollo healthcare ties-up with US based Wellcare

Details: Category: Apollo Hospitals

Apollo Healtchare, one of the largest chain of hospitals has tied-up with Wellpoint, the US based health insurance company. This move has also been approved by Joint Commission International, the hospital certifying agency in US. Now, Apollo hospitals can expect its share of foreign patients will go up with influx of US patients. Currently, around 17 % of its patients are foreign and they contribute around 28% of their turnover. Their current projection is to get around 25% foreign and a corresponding increase in their share of revenue to 40%. By 2012, they turnover could cross a billion US $ mark.

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Apollo hospital group plans expansion

Details: Category: Apollo Hospitals

Apollo Hospital promoters are planning to pump Rs.18,000 million to set up new hospitals. Currently, it has plans to set up two new hospitals in Mumbai and Thane in joint-venture with JP Morgan. These hospital will have 600 beds. The group which has a profit margin of 11% has a third quarter revenue of around Rs.3730 million. The group is going from strength to strength with their revenue per bed has also gone up to Rs.16000. Now, the promoters are also planning to increase their stake from 32% to 39%.

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Quintiles to open clinical trial unit in Hyderabad

Details: Category: Apollo Hospitals

Quintiles, the US based pharmaceutical service provider has tied up Apollo group to set up their clinical trial unit at their hospital complex in Hyderabad. The company has already offices, research laboratories, datalabs at Bangalore, Mumbai and Ahmedabad. The new unit is scheduled to function from first quarter of 2010.

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