Same Apollo perks for Harry J.

The Board of Investment (BOI) said that business tycoon Harry Jayawardena could continue to enjoy all the benefits enshrined in the original agreement of the Apollo Hospital provided he complies with the conditions stipulated in the agreement.

BOI Chairman Prof. Lakshman R. Watawala said that the new management of the Apollo Hospital will have to fulfil the minimum criteria within six months from the day on which the transfer of shares took place.

The minimum criteria stipulates that the minimum number of beds should be 350 and not 150 and this requirement had to be met within six months. The quality of service offered by the hospital has to be improved to the level of a 'Multi Speciality Hospital' and additional funds has to be brought in for the development of the hospital, Prof. Watawala said.

He said with regard to the land-lease terms Cabinet approval has to be sought. The BOI will submit details to the Ministers for due consideration.

Apollo Hospital is a BOI company and will remain so, as long as there are no contradictions to the original agreement, he said.

Minister Rohitha Bogollagama said that he has instructed that all BOI companies must be subjected to BOI laws and anyone violating it will lose benefits and concessions. Apollo is a new shareholder of the BOI jurisdiction and the takeover group has agreed to comply with the conditions specified by the BOI. The BOI has to ensure that the new ownership of the Apollo Hospital comply with the original agreement.