The Hindu : Business : Apollo’s health insurance by Aug. 8

Online edition of India's National Newspaper
Friday, Jul 20, 2007
ePaper

Business

Business

Apollo’s health insurance by Aug. 8

Staff Reporter

— PHOTO: S. JAMES

HEALTH IS WEALTH: Prathap C. Reddy, Chairman, Apollo Hospitals, talking to the media in Madurai on Thursday.

MADURAI: The health insurance venture of Apollo Hospitals with DKV of Germany will take off on August 8.

Prathap C. Reddy, Chairman of Apollo Hospitals, told The Hindu here on Thursday that the joint venture would tap the potential available in health insurance.

Union Finance Minister P. Chidambaram will launch the exclusive health insurance products at a function to be held in New Delhi. DKV is a subsidiary of Munich Re, a leading reinsurance company. Apollo Hospitals will hold 74 per cent stake in the joint venture and DKV the balance.

“Whenever the Government allows higher stake by foreign companies in the insurance sector, we will make changes,” Dr. Reddy said.

The Apollo Chairman was here to take part in the 10th anniversary celebrations of Apollo Speciality Hospitals.On the group’s global acquisition plans, Dr. Reddy said Apollo was on the look out for acquiring hospitals in many countries, including China, the U.K. and Southeast Asia.

“Whatever we want to buy, it should be at a right price. We are keen to acquire globally but I am not desperate and do not want to jump just for the sake of acquisition,” he said.

Stating that the interest of shareholders would be protected at all times, Dr. Reddy said the group was in the process of starting its operations in ten new locations ‘and the proposals are being examined’.

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section