Returned from US and started business at the age of 50, one of the oldest billionaires in the country; Now the empire is in the hands of daughters
New Delhi. That decade was 1980. It was the era of Green Revolution in India. India was writing a new definition of development. But there was a shortage of big and good hospitals in the country. Due to lack of health services, people were not getting proper treatment.
At that time many people were dying due to lack of treatment. At that time, facilities for the treatment of heart disease were not as good as today in India. Why are we telling you all this, because the story we are going to tell you is related to this. Let us know what that story is.
When a patient died in 1979, the foundation of the largest hospital chain was laid.
You must have heard the name of Apollo Hospitals. The foundation of this hospital chain was laid 46 years ago, when a patient suffering from heart disease could not get proper treatment and died.
The year was 1979. India's famous cardiologist Dr. Pratap Chandra Reddy was in America. On the other hand, there was a patient in India who was suffering from heart disease. He needed immediate treatment.
Doctor Pratap Chand Reddy advised the patient to go to America, as no one was available in India at that time. But the patient could not travel to America and he had to pay the price for it with his life. He could not escape.
This incident forced Dr. Pratap Chand Reddy to think. He was 50 years old at the time of this incident. Was settled in America. everything was. But he was deeply hurt by the death of the patient and thought of opening a heart hospital in India.
With this dream, Dr. Reddy came to India from America and started the work of establishing a world-class health care facility in India. And Apollo Hospital was born.
The first Apollo Hospital opened in 1983
After returning to India, it was not easy for Dr. Reddy to open a world-class hospital. Many challenges came before him.
Dr. Reddy faced many difficulties, including difficulty in obtaining bank loans and dealing with the hefty 100% tax on imported medical equipment.
His strong determination took him to Delhi more than 50 times. Eventually, in 1983, with the support of Prime Minister Indira Gandhi, Dr. Reddy started the first Apollo Hospital in Chennai, a 150-bed multispecialty facility that marked the beginning of corporate health care in India.
Recalling that period, Dr. Reddy says, "When I told people about starting Apollo Hospital in the 1980s, everyone called me an idiot. That became my strength and the first multi-specialty hospital was started in 1983."
Dr. Reddy was born on 5 February 1933 in Arakonda, Tamil Nadu. Dr. Reddy was the first person in his family to go to college. Although his father wanted him to pursue an MBA, Dr. Reddy chose medicine.
After completing MBBS from Stanley Medical College, Dr. Reddy trained as a cardiologist in the UK and later moved to the USA. In 1971, a letter from family inspired him to return to India, where he ultimately began his mission to transform healthcare.
The name of Apollo Hospital was given by Dr. Reddy's second daughter Sunita. According to his daughter, the name was suggested after "Apollo", the name of the Greek god associated with medicine and healing. This unique branding helped Apollo Hospitals differentiate itself as an icon of advanced medical care.
One of the oldest billionaires of India
The name of Dr. Pratap Chand Reddy, founder of Apollo Hospital, is counted among the oldest billionaires of India today. He is 92 years old. His net worth is in crores. According to Forbes Real Time List, currently Dr. Reddy's net worth is $3.4B.
Empire in the hands of daughters
Cardiologist Prathap Reddy has 4 daughters. All four look after the business together. The eldest daughter Preetha Reddy and the third daughter Shobhana are the executive vice chairperson and executive chairperson. The second daughter, Sunita Reddy, is the managing director and the youngest, Sangeeta Reddy, is the joint managing director.
How big is Apollo Hospitals Enterprise?
Apollo Hospitals Enterprise has a chain of 72 hospitals and more than 6,000 pharmacies. Dr. Pratap Chand Reddy was awarded the Padma Bhushan in 1991 and Padma Vibhushan in 2010 for his continuous social work in the health sector. Apollo Hospitals has not only changed the way healthcare is viewed as a business in India, but has also built a strong ecosystem that includes hospitals, pharmacies and digital health services.
Currently the market cap of Apollo Hospitals Enterprise Limited is Rs 1,04,459.55 crore.