September 9, 2010

Apollo may set up more hospitals in West Bengal

KOLKATA, 2nd Sept . 2010: Healthcare major Apollo Hospitals Enterprise Ltd is in talks with Parkway Holdings of Singapore to set up more hospitals in West Bengal via their existing joint venture, a top official said here Thursday.

'Our agreement is for West Bengal only and we are looking at setting up more hospitals,' Apollo Hospitals managing director Preetha Reddy said on the sidelines of an event at the Institute of Company Secretaries.

The joint venture runs one hospital in India under Apollo Gleneagles brand in Kolkata.

Asked if Apollo has plans to expand the scope of joint venture with Parkway, Reddy said Apollo would remain a 'knowledge partner'.
Parkway is now owned by Khazanah, a soverign fund of Malaysia. Talking about the company's investment plans, she said it is pumping in Rs.1,800 crore in the next 24 months.

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