Born in 1933, Prathap C Reddy graduated from Stanley Medical College in Chennai with a Bachelor of Medicine and Bachelor of Surgery.
In the early 1960s, he decided to move to the United States to join Worcester City Hospital in Massachusetts. There, he was initially a resident physician and later became chief resident. As a result of these experiences, he received a fellowship in cardiology at the Massachusetts General Hospital. In 1970, at the request of his family, Dr Reddy gave up the American dream and returned to India to join a hospital in his hometown of Chennai. Compared to hospital environment in the US, he saw a different reality in India with a medical landscape that was plagued by many shortcomings, including infrastructure, delivery and accessibility. Loss of a young patient who was too poor to go abroad for treatment, loss of his father, and then loss of a close friend with a heart attack will make a turning point in his life. Those losses led him to change the indian hospital landscape. Prathap will never stop thinking that if Apollo had existed at that time, those lives could have been saved.
In 1983, his dream of democratising access to health care for all in India began.
He opened the first Apollo Hospital. This was the beginning of what would become the largest hospital chain in India. At that time, this new hospital attracted best medical talents. Prathap C Reddy decided to go further and opened many other hospitals in India and abroad. Part of Dr Reddy’s success came from preventive care for diabetes, heart disease and cancer, three most common diseases. He is pushing for a new standard of regular check-ups. Over the years, Prathap C Reddy has been bringing access to health care all over India, even in most remote places. He strongly believes in health insurance and decided to set up an innovative insurance project, allowing regular and affordable complete check-ups. In 1991, Dr. Reddy was awarded the Padma Bhushan (a government award) for his contribution to private health sector emergence and his role in several regulatory changes related to licensing, import restrictions or organ transplantation.
In January 1996, Apollo Hospitals was listed on the stock exchange, asserting a global positioning.
As chairman of National Healthcare Committee CII since 2006, Dr Reddy is forming sub-committees to develop accreditation standards for Indian hospitals, a first in the country.
His generosity is so great that his commitment to health of others will impact his own. Indeed, throughout his lifestyle, he developed high blood pressure and diabetes. He never slowed down his entrepreneurial activity and despite a career subject to many stresses, he said with a smile at the age of 87: «I managed to reverse all this and my ECG is still normal».
Activist, he launched social initiatives such as Save a Child’s Heart in charge of treating congenital heart disease. In addition, since 2014, he has championed a population health project in his home village through Total Health Foundation, which provides comprehensive health care to a population of over 70,000 people.
Today, Apollo Hospitals Ltd is the largest hospital chain in India with over 70 hospitals in India and abroad.
In September 2022, Apollo Hospital Group established an hospital in Nairobi in partnership with Balmer Healthcare, offering 20 medical specialties, a real benefit to 47M Kenyans.
On average, Apollo hospitals perform per every year over 100 000 laboratory tests, 800 surgeries, 138 cardiac procedures, 2 200 admissions.
Throughout his career, C Reddy has received numerous awards for his involvement in global health: « Citizen of the Year Award », « Entrepreneur of the Year », « Champion of Humanity Award », « Global Health Icon ».
A lifelong engagment but also a multi-generational one.
Four Reddy daughters are committed to their father in Apollo Hospitals: eldest, Preetha Reddy, and third daughter, Shobana Kamineni, are executive vice-presidents, second daughter, Suneeta Reddy, is managing director, and youngest, Sangita Reddy, is joint managing director. With his four daughters, Prathap C Reddy has taken over his medical empire and lives quietly with his wife in Chennai.
« The moment they heard I wanted to do this, people called me crazy. So that became my strength »
IN A FEW FIGURES
Headquarters in Chennai, India
Founded in 1983
Sales 2022: $2bn
Net profit 2022: $117M
Market capitalisation: $7.7bn
71 hospitals
268 clinics
4 700 pharmacies
71 100 employees
HOSPITAL SECTOR IN INDIA
India «continental country»
1st most populous country in the world
India = 3rd largest market in the world
Health sector: $320bn in 2022
Potential annual growth rate: 16%.
20 000 hospitals
4 private hospital chains: Apollo, Narayan, Max and Fortis
Private care = 74% of the country’s total health expenditure
Prathap C Reddy, 90, is an entrepreneurial cardiologist and founder of Apollo Hospitals, India’s oldest hospital management company. His fortune reaches €2.2bn. (source: Forbes, January 2023)