Apollo Hospitals, a leading healthcare services provider, and Italy-based KOS Group have established a joint venture company ApoKOS in India to address the untapped potential in medical rehabilitation services.
According to a statement issue by Apollo, ApoKOS is India's first complete and international standard integrated rehabilitation centre for neurological, orthopedic, cardiopulmonary, pediatric, geriatric and cancer patients.
India's rehab and physiotherapy market, both organised and unorganised, is estimated to be approximately Rs 20 billion per annum, it said.
Currently the market is concentrated around home or out-patient physiotherapy and for most patients this provides sub-optimal care leading to slow and incomplete recovery, it said adding the 50:50 JV aims to bridge this service deficiency, it added.
"KOS, which runs 20 rehabilitation centres in Italy with enormous expertise in rehabilitation coupled with Apollo's deep knowledge of the Indian healthcare market, presents a thorough combination to penetrate and exploit that huge potential in the market," the statement said.
Starting with the first hospital in Hyderabad, ApoKos plans to expand its network to all the metros over the next three to five years. All these hospitals will be owned and managed by ApoKOS.
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