June 15 (Reuters) – India’s Apollo Hospitals Enterprise said on Monday it plans to appoint promoter director Shobana Kamineni as executive chairperson of its soon-to-be listed unit, medical equipment maker Apollo Healthtech.
Here are more details:
• Last year, Apollo Hospitals said it would spin off and separately list its digital health and pharmacy unit within 18 to 21 months, as part of a reorganization
• The firm said Kamineni, who currently serves as a promoter director at Apollo Hospitals, is proposed to be executive chairperson, subject to shareholder approval
• Apollo Healthtech’s board will comprise at least 50% independent directors, with nomination rights for investors and promoters subject to a proposed 10% shareholding threshold
• During its May earnings call, the company said it expects Apollo Healthtech’s demerger and listing by late FY27 after shareholder approval, targeting annualized revenue of about 250 billion rupees at listing
• The UK-based manufacturer of medical equipment serves National Health Service (NHS) and care home settings. Its portfolio includes pressure-relief mattresses and cushions, specialist seating, care chairs among other healthcare accessories
(Reporting by Urvi Dugar in Bengaluru; Editing by Nivedita Bhattacharjee)
