Sanofi proposes to buy a 20 percent stake in Apollo's sugar clinics
Healthcare major Apollo Hospitals and global pharma firm Sanofi have joined hands to provide diabetes care programs through the Apollo Sugar Clinics, in which Sanofi wants to buy a 20 percent stake.
"The collaboration will eventually lead to a joint venture between the two companies aiming to offer patients integrated, advanced care, and counselling that will help them better manage their conditions," said Mr Prathap C Reddy, Apollo Hospitals' group founder, chairman in a statement. He added, "We have around 30 Apollo Sugar Clinics at present. By the end of October or mid-November, we will take the number to 50. Our target is to have over 200 by the end of 2016."
"By joining together to expand the Apollo Sugar Clinics, we are demonstrating our commitment to delivering a superior patient experience that offers support at various stages of the diabetes care journey and aims to reduce the burden of diabetes," said Mr Christopher A Viehbacher, CEO, Sanofi.
The companies have currently applied for government approvals for the structure and other specifics are still being worked out, executives from both companies said.
