Apollo Hospitals Enterprise on Monday said it plans to appoint promoter director Shobana Kamineni as the executive chairperson of its soon-to-be listed medical equipment arm, Apollo Healthtech, as the healthcare major advances its restructuring plans aimed at unlocking value from its businesses.
The proposed appointment is subject to shareholder approval, the company said, adding that Kamineni, who currently serves as a promoter director on Apollo Hospitals' board, would lead the next phase of growth at the medical devices and healthcare solutions business.
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The announcement comes as Apollo Hospitals moves ahead with a broader reorganisation of its operations. Last year, the company unveiled plans to spin off and separately list its digital health and pharmacy business within 18 to 21 months as part of efforts to streamline its portfolio and create focused growth platforms.
Apollo Healthtech, which is also expected to be listed as part of the group's restructuring exercise, will have a governance framework anchored by an independent board. The company said at least 50% of the unit's board will comprise independent directors, while nomination rights for promoters and investors will be linked to a proposed 10% shareholding threshold.
During its May earnings call, Apollo Hospitals said it expects the demerger and listing of Apollo Healthtech to be completed by late FY27, subject to regulatory and shareholder approvals. The company is targeting annualised revenue of around Rs 25,000 crore for the business by the time of listing.
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Apollo Healthtech operates in the medical equipment segment and supplies products across institutional healthcare settings. Its portfolio includes pressure-relief mattresses and cushions, specialist seating solutions, care chairs and other healthcare accessories, serving customers including the UK's National Health Service (NHS) and care home operators.
The proposed leadership transition signals Apollo Hospitals' intent to place experienced promoter oversight at the helm of a business it sees as a key pillar of its next phase of growth, while strengthening governance standards ahead of its public market debut.
