Lanka Hospitals a public quoted company

In the wake of the former Apollo Hospital coming under State control following a Court order, the hospital was officially renamed as Lanka Hospitals when its licensing and support services agreement with Apollo Hospitals Enterprises expired on November 16.

In August, a new board was appointed to the hospital including the head of Sri Lanka’s defense establishment, Gotabhaya Rajapaksa, brother of President Mahinda Rajapaksa.

This was after Sri Lanka Insurance (SLI), which had taken control of the privately built Apollo Hospital, went back under State control. Rajapaksa became a director with the appointment of a new board representing its controlling shareholder.

However, recent speculations have indicated that the former Apollo Hospital was bought over by Defence Secretary Gotabaya Rajapaksa, now Chairman of Lanka Hospitals, which has led to these changes in the name and identity of the hospital.

Accordingly the board has now issued the following statement to provide a more complete and balanced explanation on the structure of its management.

Apollo Hospital which is now Lanka Hospitals is a public quoted company whose shares are listed in the Colombo Stock Market and as such it has a portfolio of over 8,000 shareholders as of date. Sri Lanka Insurance is the controlling shareholder owning majority shares which amount to a total of 54.61%, whilst other major shareholders include DCSL (28.59%) and Property Developers PLC, a subsidiary of BOC (9.53%). Mr. Gotabaya Rajapaksa does not hold a single share of the company.

The Board of Directors of Lanka Hospitals has been appointed by the majority shareholder SLIC, and currently comprises of 12 Directors including, Gotabhaya Rajapaksa, an independent director who is also the Chairman of the company, Pradeep Kariyawasam, Dr. Nalaka Godahewa, Dr. B. Kaluarachchi, Dr. Ajith Amarasinghe, B.A.C. Fernando, Dr. S.S.L. Perera, Brigadier (Dr.) Sanjeewa Munasinghe, Asoka Nissanka Pathirane, Prof. Dayasiri Fernando and Dr. Athula Kanhandaliyanage.

Gotabhaya Rajapaksa was invited by controlling shareholder SLIC and the Directors of Lanka Hospitals to function as the Chairman of the board at an honorary capacity. He is not an Executive Director of the company, however at his capacity provides leadership and guidance to the board.

As stated by Dr. Nalaka Godahewa, Managing Director of SLIC, ‘Our vision for the company mirrors the bold vision of President Mahinda Rajapaksa for our nation.

It is our role to participate in this move towards achieving great heights in economic accomplishments and that is why we invited the Defense Secretary to Chair the board - we believe that under the capacity of Chairman of Lanka Hospitals, Rajapaksa will no doubt lead us toward making our contribution towards this mission.’