Apollo Hospital quits Sri Lanka

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Apollo Hospital quits Sri Lanka

Apollo hospital has quit Sri Lanka. It sold its 32% in Sri Lanka Hospital Corporation for Rs 73 crore, reports CNBC-TV18.

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Apollo Hospital has quit Sri Lanka. It sold its 32% in Sri Lanka Hospital Corporation for Rs 73 crore, reports CNBC-TV18.

This comes after months of squabbling between Apollo Hospital and a Sri Lankan corporate raider, Harry Jayawardene who bought 40% in Lanka Hospital Corporation two months ago.

When contacted, Apollo Group President, K Padmanabhan, said, "The decision was taken after considerable deliberation, keeping in mind our share holder value."

In the April-June quarter, Lanka hospitals posted a loss of Rs 70 lakh.