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| Sunday, 11 July 2004 |
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Apollo reduces losses The Lanka Hospitals Corporation Ltd (Apollo Hospitals) the most prestigious medical care organisation in the country, suffered a loss of Rs 206.51 million (Rs 100 to a US dollar) for the year ended March 2004. It is an improvement on a loss of Rs 272.29 for the year ended March 2003. Turnover for the year ended March 2003 amounted to Rs 1.48 billion, an increase from Rs 805.40 million from the previous year. The Apollo annual report puts down the principal activity of the company as providing world-class hearth care for the people of Sri Lanka. Chairman, Dr Prathap C Reddy, in his report says that the operations of the hospital have not only improved but also brought in a paradigm shift in the healthcare delivery system in Sri Lanka. He says that furthermore, the hospital has made a positive cash flow in its operations in the past year which was really the first full year of operation. Dr Reddy says that although the beds available in the private hospitals are inadequate compared to the total bed availability, it caters to the tertiary care of the population which otherwise have to go to other countries like India and Singapore for medical care. Dr Reddy says that the hospital has started medical information centres outside Colombo. Centres in Jaffna, Kandy and Matara are already functional. The information centres enable people in the interior to not only get information about the hospital but also help them to get appointments with the consultants at the hospital. Apollo encourages appointments to be made over the telephone instead of people having to go to the hospital to make them. "The hospital is in the process of identifying and opening more centres across the country so that all the residents can utilise the hospital wherever they are, " Dr Reddy said. Apollo has started a mobile clinic where samples are collected from patients from their homes and reports are also delivered at their convenience. The hospital has started doing kidney transplants with a high success rate so that there would be no need to go abroad for such medical treatment, Dr Reddy said. Dr Reddy thinks that the prospect for medical tourism in Sri Lanka is very bright. This industry is considered to be $40 billion worldwide, annually and grows at 20 percent each year. The potential for disease management and image health in Sri Lanka is also very high, especially for those coming in from Asian countries. Because of Sri Lanka's central location the country has accessability from many Asian and African countries. Dr Reddy said, that Apollo would made every effort in this direction. Apollo directors say that in view of the losses incurred during the financial year, they do not recommend a dividend. |
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| Editorial | Security Produced by Lake House |
