Apollo ties up with Singapore group for hospital in Kolkata

Wednesday, 19 November 2003, 08:00 Hrs
Printer Print Email Email
KOLKATA: Apollo Hospitals Group, one of India's largest healthcare service providers, Wednesday unveiled a 325-bed hospital here in a joint venture with Singapore-based Parkway Group.

Set up with an investment of 2.1 billion, the multi-speciality Apollo Gleneagles Hospital will offer a wide range of healthcare services, said Prathap C. Reddy, chairman of Apollo Hospitals Group.

"As a multi-speciality hospital and a centre of excellence, the hospital will serve patients in the entire eastern region of the country," Reddy told a news conference here.

Apollo Hospitals Group will hold 49 percent stake in the joint venture while the Parkway Group will own the majority 51 percent equity.

Joshua Goh, director of the Parkway Group, said his firm would also explore the possibility of setting up multi-speciality hospitals in a joint venture with the Apollo Hospitals Group in other parts of the world.

Reddy said the hospital had started operations with an initial investment of 2.1 billion and the promoters would infuse more funds over the next few months to introduce new services.

"Our aim is to make the hospital the central healthcare hub not only for this region of the country but also for neighbouring countries like Bangladesh, Nepal, Myanmar and Bhutan," he said.

Apollo Gleneagles Hospital will initially offer services in emergency, critical care, cardiac, cancer, neurology, nephrology and orthopaedics.

"This joint venture with the Parkway Group provides an opportunity to bring their experience in Asia to India to provide world-class healthcare," said Reddy.

"We see this partnership as only the beginning of our association to enhance the patient experience at hospitals," he said.

The Parkway Group manages hospitals under the brand names of Gleneagles and Mt. Elizabeth. It accounts for 70 percent of Singapore's private healthcare market.

The group also has its operations in Singapore, Malaysia and Brunei.

Source: IANS
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..