Thursday, August 9, 2007

Apollo eyes US acquisition, gives up UK plans

Healthcare chain Apollo Hospital Enterprises has said it is in advance talks with two US firms for a possible takeover as part of its plans to expand in medical business process outsourcing.

"Hopefully, things would be finalised in next 3-4 days," Apollo Hospital Enterprises Chairman Prathap C Reddy told the media.

When asked about the shortlisted companies, he declined to name them, but said talks were at an advance stage.

If the deal goes through, it would be a shot in the arm for Apollo Health Street, which provides services like processing of receipts and collection of dues to healthcare companies. The deal is also expected to give Apollo Hospitals access to more clients in the US.

Read more in The Economic Times article.

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