Latest news with #MadhivananBalakrishnan
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Business Standard
a day ago
- Business
- Business Standard
Apollo eyes 20-23% growth in new co; says restructuring to unlock value
Apollo Hospitals Enterprise Ltd (AHEL) on Tuesday said its ongoing restructuring aims to unlock the value of its omni-channel pharmacy and digital businesses, while enhancing shareholder returns. The newly formed entity is expected to achieve a year-on-year growth rate of 22–23 per cent, driven by the e-pharmacy segment and other business verticals, with a revenue target of Rs 25,000 crore by FY27. The digital health platform is also expected to break even within the next financial year. On Monday, the Chennai-based AHEL announced plans to spin off its digital health and pharmacy distribution businesses into a separate entity, with plans to list the new entity within 18 to 21 months. As part of the restructuring, the company's omni-channel pharma and digital health business, Apollo HealthCo, will first be demerged from AHEL into a new entity, following which its pharma distribution arm, Keimed, will be merged into the new company. Its current revenue stands at around Rs 16,300 crore. The company has stated plans to achieve a revenue run rate of Rs 25,000 crore by FY27 with 7 per cent EBITDA margins, said Suneeta Reddy, Managing Director, Apollo Hospitals Enterprise. After the entire restructuring process—expected to be completed by the listing of the new company by February 2027—the new entity will include the digital health platform Apollo 24/7, the offline pharmacy business of Apollo HealthCo, Keimed, and the telehealth services business. 'We are looking at a growth of around 22 per cent to 23 per cent on a year-on-year basis. In the first two quarters—Q4 and Q1 of this year—we have been able to beat that number reasonably well, and I believe that traction is on. It will primarily come from the e-pharmacy business, wherein we have started touching around Rs 165 crore to Rs 170 crore on a month-on-month basis between the platform and some of the other supporting engines,' said Madhivanan Balakrishnan, Chief Executive Officer of Apollo HealthCo. 'Both the consult business and the diagnostic business, which we work very closely with Apollo Hospitals, are also showing an uptick. There are two more lines of business which we are adding—one is insurance, which is in the early stages; that will also contribute to growth, not just as a standalone line of business but also as a feeder into our primary pharmacy and healthcare lines of business. 'And third, this year we see a reasonable amount of GMV—also more than GMV—revenue coming from our monetisation initiatives. We are reasonably confident of 20 to 25 per cent growth between both AHEL as well as Keimed once it comes through,' Balakrishnan added.
Yahoo
17-05-2025
- Business
- Yahoo
Indian digital health platform Apollo 24
Apollo 24|7, the digital health platform of Indian multinational healthcare group Apollo Hospitals, has secured regulatory approval to operate as a corporate agent. Apollo 24|7 Insurance Services will soon begin distributing health, life and general insurance products. The company has set a financial goal, aiming to achieve Rs800m ($9.35m) in revenue during its first year of operation, reported UNI. According to Apollo HealthCo CEO Madhivanan Balakrishnan, Apollo 24|7 Insurance Services has concluded a pilot phase and intends to launch offerings from 12 insurance providers in the next two months. Balakrishnan said: "With our entry into insurance distribution, Apollo 24|7 Insurance services will help customers choose plans that truly match their health needs. Backed by AI and rich health insights, this marks a big step in making healthcare more personalised, affordable and integrated for every Indian." In addition to health, life and general insurance products, Apollo 24|7 Insurance Services plans to incorporate Apollo benefits into its plans, with a particular emphasis on OPD coverage going forward. The company is also introducing a credit card, developed in partnership with a prominent credit card issuer in India, which will offer specific benefits such as discounts on medicines, diagnostics, consultations and wellness services. This initiative targets Apollo HealthCo's user base and is expected to be launched shortly. Earlier this year, Apollo Hospitals partnered with Ainnova Tech, a healthcare technology company, to integrate AI into its disease detection and prediction capabilities. "Indian digital health platform Apollo 24|7 ventures into insurance distribution " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
15-05-2025
- Business
- Hans India
Apollo 24/7 forays into insurance, credit card biz
Hyderabad: Apollo 24|7, India's largest omni-channel digital health platformof Apollo Hospitals Group, has announced a series of major expansions aimed at strengthening its footprint in Telangana and reshaping the healthcare experience through innovation, accessibility, and affordability. As part of its expansion plan, Apollo 24|7 has announced its entry into the insurance and credit card segments. With regulatory approval secured, Apollo 24|7 Insurance, a fully-owned subsidiary, will soon offer Health, Life, and General Insurance products, leveraging its AI-powered platform and rich health data to tailor coverage to individual needs. The company aims to generate Rs80 crore in its first year of insurance operations. Simultaneously, Apollo will also launch India's first health-focused credit card in collaboration with a leading issuer. The card will offer exclusive benefits across medicines, diagnostics, doctor consultations, and wellness services, targeting Apollo's 150 million users. 'Apollo 24|7 is on a mission to make healthcare more affordable, integrated, and preventive. With Telangana as a strategic pillar, we're driving the next chapter of digital healthcare in India,' Madhivanan Balakrishnan, CEO, Apollo HealthCo, told the media here on Wednesday. In a bid to promote preventive healthcare, Apollo has launched the 'Ultimate Health Challenge'—a pioneering initiative that refunds the full cost of health check packages to users who receive 100% positive reports. This effort is designed to encourage early detection and proactive health management. Since launching in 2020, Apollo 24|7 has rapidly evolved into a comprehensive digital healthcare ecosystem. Telangana, especially Hyderabad, has emerged as a key growth region, accounting for 17 per cent of Apollo's nationwide pharmacy sales. With over 900 Apollo Pharmacy stores across the state—500 of them in Hyderabad—the platform fulfills 4.5 million monthly pharmacy orders, making quality medicines available within 1–2 km of most residents. One of the standout achievements in the region has been the successful pilot of Apollo's 19-minute medicine delivery service, a first-of-its-kind healthcare quick commerce initiative. Over 80,000 orders have been delivered within this record time, and the company plans to expand this service across Hyderabad and eventually throughout Telangana.
Time of India
14-05-2025
- Business
- Time of India
7 forays into Insurance, plans to launch products from 12 insurers in two months
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Apollo 24|7, an omni-channel digital health platform , announced its foray into insurance with 'Apollo 24|7 Insurance Services' on Wednesday. Apollo 24|7 Insurance services |7 Insurance services, a fully owned subsidiary of Apollo HealthCo, has secured regulatory approval to operate as a corporate agent and will soon begin distributing Health, Life, and General Insurance products on its platform for its customers, Apollo HealthCo CEO Madhivanan Balakrishnan said in a company has already completed a successful pilot and plans to launch insurance products from 12 insurers within the next two months, he plans will be bundled with exclusive Apollo benefits, with a strong focus on distributing OPD coverage in future, Balakrishnan said adding the company targets Rs 80 crore in revenue in the first year of operations."With our entry into insurance distribution , Apollo 24|7 Insurance services will help customers choose plans that truly match their health needs. Backed by AI and rich health insights, this marks a big step in making healthcare more personalised, affordable, and integrated for every Indian," Balakrishnan 24|7 also announced the upcoming launch of health-first credit card designed to simplify payments and reduce healthcare costs for its in collaboration with one of India's leading credit card issuers, the card will offer exclusive benefits from medicines and diagnostics to doctor consultations and wellness services, the release said. Targeting Apollo HealthCo's 150 million strong user base, the card is expected to launch within the next fortnight, it 24|7's 19-minute medicine delivery service will soon be expanded across Hyderabad and gradually rolled out across other parts of Telangana, the release added.
The Hindu
14-05-2025
- Business
- The Hindu
Apollo HealthCo to market life, health insurance as corporate agent
Apollo Hospitals group firm Apollo HealthCo is gearing up to market health and term life insurance products of at least eight insurers with whom it has tied up after securing Insurance Regulatory and Development Authority of India (IRDAI) approval to operate as a corporate agent. A pilot project was successfully completed and the plan is to launch insurance products from as many as 12 insurers within the next two months. For now, it has tied up with four standalone health and four life insurers. All the insurance plans will be bundled with exclusive Apollo benefits with a focus on distributing OPD coverage in future. The company is eyeing marketing of 1 lakh policies and ₹80-100 crore in revenue in the current financial year from the insurance operations, for which it has set up a subsidiary firm, Apollo HealthCo CEO Madhivanan Balakrishnan said on Wednesday (May 14, 2025). Sensing a growth opportunity by offering additional services to customers of the Apollo 24|7 digital healthcare platform that it operates alongside the retail network of over 6,500 stores Apollo Pharmacy, the company has decided to launch a co-branded credit card to simplify payments and reduce healthcare costs for its customers. Conceived in collaboration with one of India's leading credit card issuers, the card will offer exclusive benefits from medicines and diagnostics to doctor consultations and wellness services. The card is expected to be launched within the next fortnight, Mr. Balakrishnan told media here. Health Challenge He said Apollo HealthCo is also rolling out 'Ultimate Health Programme', a first-of-its-kind preventive health initiative on the Apollo 24|7 platform. Under the programme, customers who undergo a preventive health check and receive a 100% positive report will be refunded the full value of their health package. 'Prevention is the first step to true healthcare. The health challenge is our way of encouraging every individual to prioritise early detection and wellness,' he said.
