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Apollo Hospitals prefers controlling stake in JV
The bitter experience suffered in Sri Lanka last week has compelled the Indian healthcare giant Apollo Hospitals Group to revise its strategy on joint ventures not just overseas but within the country as well.
However, the revised strategy on equity holding would not apply to the joint ventures already signed such as the Rs 700-crore Mumbai hospital project, wherein JP Morgan would be holding 60 per cent equity, while Apollo would confine to 40 per cent stake.
'Going forward, we will be keen on holding controlling stake in as many joint ventures as possible,' Dr Reddy told Business Line.
The Group is currently on a major expansion mode through joint ventures for setting up hospitals at Mumbai, Bangalore, Bhubhaneshwar, Visakhapatnam, Allahabad or Varanasi and Dehradun in the domestic market, apart from several overseas ventures, Dr Reddy said.
