Meet man, studied abroad, but returned to India, treated people for only Rs 1, built hospital of Rs 1 Lakh crore, he is…, his business is…
Dr. Prathap C. Reddy, founded Apollo Hospitals in Chennai in 1983. Apollo is India’s largest private hospital network with over 73 hospitals, 11,000 doctors, and 6,500 pharmacies.
He was born in 1933 in Aragonda village in Andhra Pradesh. He always wanted to reduce people’s suffering. He did MBBS in India and then did further studies in cardiology at Massachusetts General Hospital in Boston. He received a fellowship from Royal College in the UK.
He was having an opportunity to have a good career abroad. But one incident changed his life. Dr. Reddy one child’s death because the family couldn’t afford treatment abroad. This experience made him return to India in 1971 with a dream to establish world-class healthcare facilities within the country.
Birth Of Apollo Hospitals
Building such a big hospital in India was not an easy task. Banks and the government were not much supportive to him at the time. Dr. Reddy mortgaged family land of Rs 3 crores to build the first Apollo Hospital in Chennai, which opened with just 150 beds.
He also needed skilled professionals, so Dr. Reddy traveled to the United States to hire Indian doctors practicing abroad and willing to return home. Some of the highly qualified doctors joined him, and Apollo began to expand.
Within three years, Apollo became profitable. Dr. Reddy then established hospitals in cities like Ahmedabad, Bilaspur, Mysore, and Kolkata. He treated some of his patients only in Rs 1.
Apollo’s Growth
By 2003, Apollo’s revenue crossed Rs 300 crores, and it became the first hospital group in India which was listed on stock market. Apollo later acquired a pharmacy chain which is known as Apollo Pharmacy. In 2015, it launched Apollo HomeCare for healthcare services. In 2020, they started Apollo 24/7 digital health platform, which helped around 10 million users within two years.
On April 26, 2024, Apollo became India’s most valuable hospital group with a valuation of Rs 1 lakh crore, due to a rise in its stock price.
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