Date:03/11/2005 URL: http://www.thehindubusinessline.com/2005/11/03/stories/2005110302570900.htm

Back Apollo may take over Kakinada hospital

Our Bureau

CHENNAI: Apollo Hospitals Enterprise Ltd is likely to take over a 100-bed hospital based in Kakinada, Andhra Pradesh, which is now owned by another company, but managed by Apollo.

Apollo Samudra Hospital is owned by an unlisted company called Samudra Healthcare Enterprises Ltd. The company has around Rs 10 crore dues with banks and financial institutions.

Apollo on Wednesay announced to the stock exchanges that once the dues are "satisfactorily" settled with banks and FIs under OTS scheme, Apollo will purchase 100 per cent equity of Samudra.

Apollo's board is to meet on November 4 to discuss this issue, the company's notification said.