The Apollo Hospitals Enterprise Limited reported that its total income increased has increased by 7.26 per cent from Rs. 106.44 crore to Rs. 114.17 crore, the profit after tax showed an increase of 13.65 per cent, up from Rs. 6.90 crore to Rs. 7.84 crore for the quarter ended 30th June 2003.
The Board of Directors in the meeting held on 21st July 2003, conferred the appointment of Haskins & Sells as auditors of the company, particularly in view of the fact that the company has global ambitions and an international auditing firm will help to achieve Apollo’s ambitions to list internationally. However, in view of the recent debate amongst Indian auditing firms on the legality of international auditing firms entering the Indian market, the company has decided to defer its decisions until such time that the controversy is resolved. Therefore, M.S. S. Viswanathan & Co, the current auditors will continue as the auditing firms of the company subject to approvals from the shareholders.
The Group has been aggressive in its International Marketing initiatives and has identified 7 locations with access to international airports to target international patients (viz., Hyderabad, Chennai, Delhi, Kolkata, Ahmedabad, Colombo & Dubai). The priority high end specialities which are being focused on include cardiology - interventional, pediatric and cardio thoracic surgery, neurology and neurosurgery, orthopedics focused on hip & knee replacements, medical, surgical and radiation oncology, organ transplants specifically liver and bone marrow transplants, cosmetic & plastic surgery among others.
The International patients would primarily be from the South Asian region (viz., Bangladesh, Myanmar, Nepal & Bhutan) South - East Asian region (Viz., Indonesia, Malaysia, Maldives & Mauritius), African Region comprising of Kenya, Tanzania, Ethiopia, Sudan & Somalia; Middle East & Gulf region comprising of Oman, Kuwait, Qatar & Saudi Arabia; and the CIS region (Confederation of Independent States) comprising of Kazakhstan, Uzbekistan, Kyrgztan, Tajikistan and Turkmenistan.
The strategy would comprise of establishing an AIC (Apollo Information Center) network, establishing government-private partnership for patients to be sent by the respective ‘Treatment Abroad Committees, referring private patients through Health Insurance HMOs and TPAs and through local doctor referrals.
The big announcement saw the Apollo Hospitals Group establish a strong presence in South East Asia. The global oil giant PETRONAS plans to set up a 302 bed hospital in Kuala Lumpur, Malaysia and has approached Apollo Hospitals Enterprise Limited (Apollo) to provide assistance during the commissioning activities and to manage the hospital.
KLCC Medical Centre will be established, developed as the leading tertiary care private hospital in Kuala Lumpur, Malaysia by Petroliam Nasional Berhad (Petronas). The hospital’s design, facilities, treatment and patient care will be of international standards. KLCC will start as a 206 bed facility that will increase to 302 beds in phases, 48 beds addition in 3rd year and another 48 beds in 5th year. This hospital will provide emergency, ambulatory and acute medical services. KLCC Medical Centre will be able to attract patients from Middle East and Indonesia as an alternative to Singapore and Bangkok. The hospital would be commissioned in October 2004. The Feasibility Report, Business Plan & Hospital Design for the Hospital was done by United Medical Group (UMG) of Australia.
The Apollo Hospitals Group also announced a number of exciting initiatives for both the domestic and international markets.
On the domestic front, Apollo Hospitals launched two unique initiatives, a HEALTH Card, an insurance scheme which covers a family of five for Rs. 7500 per annum, and a smart card launched specifically for students. The HEALTH Card is unique in that it covers pre-existing diseases and maternity services, and entitles the insured to avail outpatient consultation, investigations and in-patient treatment upto Rs. 2 lakh per annum for the family. The smart card for students has been launched by the National Smart Card Consortium of Enterprises (NASCENT), a consortium of ECIL, SETS and SITAR and Apollo Hospital Telemedicine Networking Foundation (ATNF), a not-for-profit organization of the Apollo Group.