New Delhi: Healthcare chain Apollo Hospital Enterprises confirmed that it is in advance talks with two US firms for a possible takeover as part of its plans to expand in medical business process outsourcing.
“Things will be finalized within the next 3-4 days,” Apollo Hospital Enterprises Chairman Prathap C Reddy told PTI.
When asked about the shortlisted companies, he declined to name them, but said talks were at an advance stage.
If the deal goes through, it would be a shot in the arm for Apollo Health Street, which provides services like processing of receipts and collection of dues to healthcare companies. The deal is also expected to give Apollo Hospitals access to more clients in the US.
About its plans to acquire hospital chains in the UK, Reddy said the company has dumped the idea as it found the prices quoted to be very high.
Meanwhile the company is expanding its overseas operations. It has entered the health insurance segment through a joint venture with a Germany-based DKV AG to form an entity Apollo DKV Insurance Company for a total investment of Rs108 crore.
DKV AG would have a 26% stake in the newly-formed company while Apollo would own 74%.
The JV initially proposes to offer a comprehensive range of products covering in-patient hospitalization, critical illness, overseas travel and health and personal accident.
The company would operate as a stand-alone health insurer and is through these initiatives set to step up its presence in the overseas market.