Apollo Hospitals (AHEL) announced on Wednesday the creation of India’s largest all-channel health platform called “Apollo HealthCo” by merging its online and offline pharmacies and telemedicine companies with declining sales.
Following the reorganization, Apollo Hospitals transferred their business to external pharmacies (excluding hospital-based pharmacies), the Apollo 24/7 digital healthcare platform, pharmacy retail investment (Apollo Medicals Private Ltd) and Apollo 24/7, Apollo Pharmacy ”and private label brands in the 100% subsidiary of Apollo HealthCo Limited.
“We have consistently argued that offline pharmacy business will continue to grow to 5,000 stores and maintain a healthy revenue growth rate from 18-20% in the next 3 years “, the company said in a statement.
In addition, the Apollo 24/7 digital health platform has demonstrated the ability to deliver drugs in 2 hours in over 10,000 pin codes, combined with the highest availability of drugs.
Apollo 24/7, which is already the highest-earning teleconsultation platform in India, continues to scale quickly with the “easy assets approach” and strives to reach 100 million registered users in 5 years.
“The Apollo Hospitals Group, as the first adopter of modern healthcare, is in a perfect position to lead in this transformation. This all-channel approach has enabled us to serve more than 27 crore people in the last 500 days, ”said Shobana Kamineni, AHEL’s Executive Vice President.
“This proposed reorganization will set up a platform for the appropriation of new investment capital groups that will allow for the rapid expansion of the digital health platform,” the chief health team said, adding: “AHEL is expected to maintain a dominant position after increasing external capital. the loss of sales of 1,210 kroner will be received by AHEL. “
Meanwhile, Apollo hospitals reported consolidated net profits from Rs 169.9 crore for Q4FY21, relative to net profit of Rs 209.6 crore in the quarter from a year ago.
Total consolidated revenue decreased to Rs 2,888.4 crore in the fourth quarter of FG21 compared to Rs 2,926.4 crore in Q4FY20.