homehealthcare NewsApollo Hospitals MD believes company is worth more than twice of what it is valued at
healthcare | Jun 10, 2022 6:51 AM IST

Apollo Hospitals MD believes company is worth more than twice of what it is valued at

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Suneeta Reddy, MD of Apollo Hospitals said there will definitely be enough money for funding for the growth in the Apollo 24/7 vertical. She said they have invested interest for the long-term and they should be able to achieve the targets set out for Apollo 24/7.

Apollo Hospitals managing director Suneeta Reddy believes the hospital chain is worth more than twice the valuation it currently commands.

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"It is my belief that the business should be valued over $2.5 billion," Reddy told CNBC-TV18, adding that she is sure to get investors in that valuation.
"We are the only omnichannel player in the business," she said. As per Reddy, it is important to focus on the business model and the value proposition, and Apollo is very clear about it.
She said Apollo pharmacy had a physical footprint of over 5,500 stores. "Digital is an add-on," she said.
"We do 5 lakh pharmacy transactions a day. We have touched 50,000 deliveries in the online pharmacy space. The 24x7 model is all about bringing all the networks that Apollo has, from primary care to diagnostics and from 7,000 doctors to 10,000 beds, together," Reddy said.
The Apollo Hospitals MD said they would definitely have enough money for funding the growth in the 24x7 vertical. "I do believe that we have the ability to fund in the short-term, that we have invested interest for the longer-term, and with that, we should be able to achieve the targets that we set out for 24x7," she said.
On investor interest, she said the deal should close out by the end of this calendar year. "Meanwhile, we have sufficient cash flow to fund our business," she said.
With COVID-19 still prevalent, Apollo is also looking to scale up diagnostics, and Reddy said that the same would be the focus for this year. "We expect to reach Rs 1,000 crore of revenue within the next 36 months. We are on track to do this and now have the ability of 24x7 as fund into diagnostics. So, we should get there faster," she said.
Talking about COVID-19 and its variants and subvariants, Reddy said the requirement for hospitalisation has been extremely low. "This time, it is quite insignificant because we have only 30 patients who have been admitted with COVID-19," she said.
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