March 2019 digital v1

hospital news
Apollo Hospitals honoured with
postal stamp
Governor of Tamil Nadu released a postal
stamp commemorating the pioneering
efforts of the chairman of Apollo Hospitals, Dr
Pratap C Reddy’s in preventive healthcare in
India, recently.
Since its establishment in 1983, Apollo
Hospitals pioneered innumerable initiatives in
healthcare management.
“Dr Reddy and Apollo are synonymous
with healthcare excellence in the world.
They excel in end to end healthcare of
consumers from 140 plus countries and have
many firsts including the recent launch of
South East Asia’s first ever Proton Cancer Care
Therapy centre. Preventive Care was
first pioneered in India by Dr Pratap Reddy
and today I am happy to commend his
dedication to disease prevention through this
special stamp,” Banwarilal Purohit,
the governor of Tamil Nadu, said on the
occasion.
Apollo’s Preventive Healthcare initiatives
have been working tirelessly for almost four
decades to ensure that Dr Pratap Reddy’s
dream is realised, said Preetha Reddy, Vice
Chairperson of Apollo Hospitals in a statement.
“We take pride in having touched 20 million
lives through our preventive healthcare
endeavours. It is a very significant moment for
the entire Apollo family as a special preventive
healthcare commemorative stamp is being
released, in recognition of our efforts,” she
said.
New hospital in Lucknow
President Ram Nath Kovind inaugurated
the Apollomedics Super Specialty hospital
in Lucknow. It is the 72nd hospital of Apollo
Hospitals Enterprise, Asia’s largest hospital
chain, which has a total bed capacity of
10000 across India. The group also runs
3500 pharmacies, over 90 primary care and
diagnostics clinics, and more than 160 Apollo
Munich Insurance branches.
Dr S Natarajan
elected
president of
AIOS
S Natarajan, chairman
Dr and managing director,
Aditya Jyot Eye Hospital,
Mumbai has been elected
as president of All India
Ophthalmological Society.
Established in the year
1930, AIOS has continuously
grown over the years and
currently has over 20,000
life members. The key
objectives of the society are
cultivation and promotion
of the study and practice of
ophthalmic sciences, research
and manpower development
with a view to render service
to the community and to
promote social contacts
among ophthalmologists of
the country.
Max sells controlling stake in Max Bupa to True North
The Board of Max India on Tuesday
approved the sale of its 51% stake in
Max Bupa Health Insurance Company
(Max Bupa), to the leading Private Equity
firm True North. The all cash transaction
values Max Bupa at an enterprise value of
Rs 1,001 crore and is subject to requisite
regulatory approvals. Bupa, the existing
joint venture partner in Max Bupa, remains
committed to the joint venture and will
continue to play an active role in the
company as before through its Board
positions and knowledge exchange
initiatives.
At the conclusion of the transaction,
True North will nominate
directors on Max Bupa’s
Board, while Max India’s
nominated directors
will step down. The use
of the Max brand will
be phased out over a
period of two years and
replaced with a suitable
name. The Bupa brand
name will continue as
before.
True North
Analjit Singh
Founder &
Chairman
Max Group
(formerly known as India Value Fund
Advisors) is an active investor in Indian
assets. It has built deep knowledge and
skills in the Indian market, investing in
more than 40 Indian businesses over the
last 19 years through its 6 investment
funds with a combined corpus of over US$
2.8 billion. Over the years, True North has
made productive investments across the
financial services and healthcare sector, to
the tune of Rs 5,700 crore.
The transaction will lead to a cash
inflow of Rs 511 crore for Max India. The
company intends to utilize the proceeds to
invest in both existing and new business
opportunities which are currently under
evaluation.
60 / FUTURE MEDICINE / March 2019