The Apollo Hospitals Group on 28 October 2013 announced a group-level partnership with Kohlberg Kravis Roberts (KKR), an American private equity fund.
According to the partnership KKR, together with its affiliates and select investors will invest 550 crore Rupees in the Apollo Hospitals Group. The investment is in the form of 5 year callable security that consolidates existing debt at PCR and initiates a partnership in the healthcare sector across the two firms.
According to the agreed partnership, Kohlberg Kravis Roberts (KKR) would raise 550 crore Rupees long term investment for the Apollo Hospitals Group.
Dr. Prathap C. Reddy, Chairman of the Apollo Hospitals Group told that this transaction is the culmination of very involved deliberations with the clear intent of working together to create long-term value for the group, and reflects our philosophy of partnering with players who have a long-term view and deep understanding of the healthcare space.
About Apollo Hospitals Group
• The Apollo Hospitals Group was founded by Dr. Prathap C Reddy in 1983. The first hospital of Apollo Hospitals Group was established at Chennai.
• Apollo Hospitals Group is an integrated private healthcare organization which owns hospitals, diagnostic clinics, dispensing pharmacies and consultancy services.
• The Government of India honoured the pioneering spirit of the Apollo Hospitals Group with the release of a commemorative Postage Stamp on 3 November 2009.
• Dr. Prathap C Reddy, Founder Chairman of the Apollo Hospitals Group was conferred with second highest civilian award, the Padma Vibhushan in March 2010 in Trade and Industry discipline for his contribution to the private health care sector.