Chennai, India (CU)_ Apollo Hospitals (AHEL) announced the launch of India’s largest omni-channel healthcare company, known as Apollo HealthCo, by uniting its online and retail pharmacies and telemedicine operations via a slump sale. The company stated, “We have consistently maintained that the offline pharmacy business will continue to grow to 5,000 stores and maintain a healthy revenue growth rate of 18-20% in the next 3 years”.
Apollo Hospitals’ back-end offline pharmacy business (except hospital-based pharmacies), digital healthcare platform Apollo 24/7, its investment in retail pharmacy business (Apollo Medicals Private Ltd) and the Apollo 24/7 brand, Apollo Pharmacy brand, and private label brands have all been transferred to Apollo HealthCo Limited, the healthcare group’s 100 percent subsidiary.
Furthermore, Apollo 24/7, the online healthcare platform, has proved its potential to provide medications within two hours in more than 10,000 pin codes, with the highest availability of pharmaceuticals. Apollo 24/7, India’s highest-earning tele-consultation platform, is scaling quickly using an asset light approach, with a goal of reaching 100 million registered customers in five years.
Shobana Kamineni, Executive Vice-Chairperson, AHEL, stated, “The Apollo Hospitals Group, as the first adopter of modern healthcare, is perfectly positioned to be at the forefront of this transformation. This omni-channel approach has allowed us to serve over 27 crore people over the last 500 days”. The healthcare major added, “This proposed reorganization will set the platform for tapping new pools of investor capital that will enable rapid scale-up of the digital healthcare platform. Post external capital raise at AHL, AHEL is expected to retain dominant majority shareholding in AHL and a slump sale consideration of INR 1,210 crore will be received by AHEL.”
