July 24, 2011

Apollo identifies three locations to set up medical colleges

Healthcare chain Apollo Hospitals has identified Chennai, Hyderabad and Madurai as locations to set up three medical colleges as part of its plans to expand its medical education venture.

The Apollo Hospitals chain that already runs 11 nursing and hospital management colleges is expecting the first of its three medical colleges to start functioning within the next two years time.

"A master plan to set up three medical colleges at Chennai, Hyderabad and Madurai has been approved," Apollo Hospitals Enterprise executive director operations Sangita Reddy said.

According to the plan, the firm expects the first one of the three to be completed in two year's time.

"After getting various approvals, including that of Medical Council of India, we expect first of the three to get operational in two year's time," Reddy said.

Reddy, however, declined to comment on investments and other details for setting up the three medical institutions citing silent period due to the company's ongoing QIP issue to raise Rs 600 crore.

When asked if Malaysian sovereign fund Khazanah would partner Apollo to set up the hospitals, Reddy said: "That is not confirmed."

Apollo Hospitals has been in talks with Khazanah for healthcare education in the country. Khazanah holds nearly 12 per cent stake in Apollo Hospitals.

The Chennai-headquartered healthcare chain is already running 11 nursing and hospital management colleges. It has 1,200 pharmacies and 54 hospitals with a capacity of over 8,500 beds.

She said the firm would like to train nearly 5,000 para medics per year.

The healthcare major also runs over 100 diagnostic clinics across the country.

Link: Original Article

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