March 21, 2010

Apollo commits Rs 1,000 cr for medical education entry

India’s largest corporate hospital chains — Apollo Hospitals, Fortis Healthcare and Max Healthcare — are poised for an aggressive foray into medical education, which was opened to them recently.

While the largest chain, Apollo, committed an initial investment of Rs 1,000 crore on Thursday in medical education, the second largest player, Fortis, announced its plans to offer not only pure medicine courses but nursing, dentistry, and other paramedical courses as well. Max Healthcare said it is contemplating entering medical education “in two to three years from now.”

The Centre has allowed companies to set up medical colleges, as reported by FE on Wednesday. Prathap C Reddy, chairman, Apollo Group, while replying to a FE query said, “We are working out the modalities for setting up a global health academy, which would include an undergraduate medical college with an initial intake of 200 students. The rollout plans are still in early stages, but it could cost some Rs 1,000 crore”, He added that Apollo has appointed McKinsey as its consultant for doing the groundwork on this academy. “A separate team is working on this project, which is expected to come out with a report in the next 90 days,” Reddy said.

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