Apollo Hospitals Enterprise Ltd (AHEL), which sold its entire stake of 33.22 per cent in Lanka Hospitals Corporation Ltd. (LHCL) to Sri Lanka Insurance Corporation (SLIC), may pick up a sizeable stake in LHCL again.
Unlike earlier, SLIC, which bought out Apollo in LHCL two months ago for Rs 63.80 crore, is now willing to offer substantial stake (even as a leading partner) at a negotiated price, said SLIC Chairman Harry Jayawardhane.
As a prelude to this, Apollo Hospitals, recently entered into a fresh agreement with SLIC for providing continued management and operational support services for Lanka Hospitals Corporation.
Jayawardhane said: `SLIC recognises Apollo`s expertise, quality and its international standards in providing quality healthcare to run our 250-bed hospital in Colombo. We are keen to have them back as an equity partner in the Lanka Hospitals.`
`We are even willing to offer majority stake in the project based on fresh negotiations on the project. We will soon discuss at our board meeting to decide on this,` he added.
Apollo Hospitals chairman Prathap C Reddy said that the company is open to once again picking up a stake in Lanka Hospitals, which happened to be our first overseas venture. We are keen to run the hospital in Colombo as we have built tremendous management efficiencies,` he said.
`We are pleased to offer our expertise and services to the Lankan Hospitals. Today marks the start of a long and mutually beneficial association for all stakeholders involved,` Reddy added.
Earlier both the companies have entered into a fresh agreement in which Apollo will manage and provide support services to the Lanka Hospitals Corporation. `The 250-bed capacity will be increased to 400 soon,` said Preetha Reddy, Managing Director of Apollo Hospitals.
Under the new agreement, new board of directors of LHCL will have control over the operational management and the hospital will continue to be called Apollo Hospital, Colombo, Jayawardhane added