The Hindu : Business : Apollo plans to take over U.K. hospitals

Online edition of India's National Newspaper
Wednesday, Feb 21, 2007
ePaper


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Business

Business

Apollo plans to take over U.K. hospitals

LONDON: The Apollo Hospitals group has drawn up a hit-list of British takeover targets, including Priory's Healthcare and Capio UK.

Quoting people with knowledge of Apollo's plans, the media here reported that the Indian company had already expressed an interest in the operating arm of Capio UK, one of Britain's biggest hospital businesses, which includes the Nightingale Hospital here.

Britain is understood to have become particularly attractive to Apollo's founder and Chairman Dr. Prathap Reddy, following a surge of transactions that have seen Britain's private healthcare industry rapidly consolidate into private equity-backed portfolios.

Capio's business in Britain, which consists of 21 hospitals across the country, is part of a much larger European group of the same name.

The Apollo group, which has 39 hospitals, is also looking at other British targets, including Priority Healthcare, the country's best-known home for celebrity addicts, the Sunday Telegraph reported. ABN Amro, Priory's major shareholder, has appointed Morgan Stanley to conduct a strategic review, and Apollo would have enough firepower to mount a bid if it teamed up with private equity backers. — PTI

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