New Delhi: The business of healthcare must always first cater to the need of patients first and then that of stakeholders, Apollo Hospitals‘ Vice Chairperson Preetha Reddy said on Wednesday.
While speaking at the ET Awards CEO Roundtable 2024, Reddy pointed out that private equity investors often prioritise their business and profits.
However, she argued that what is more important in the health sector than profits, is the care of patients.
According to Reddy, such investors, who hold major shares in the healthcare sector, must learn to navigate the business differently.
Further, she also said that the sector can be profitable if investors learn to manage it according to its specific needs.
“Healthcare when done right can be profitable. Private equities shouldn’t run hospitals as they are, healthcare is a biz of caring-which must come before the biz,” said Reddy.
Moreover, she explained that markets must be judicious and extra careful for the healthcare sector. This, according to Reddy, is not just a profit making sector.
“Markets must be judicious and extra careful. Private equities are running hospitals and controlling our shareholders, so they should be cognisant of the fact that healthcare is not just about making profits,” said Reddy.
When asked about the growing dominance of private equity investors in the India’s healthcare sector, Reddy said that they already own large shares in hospitals in India.
Preetha Reddy made these remarks in conversation with Economic Times’ Associate Editor Arijit Barman.
The panel also included Uday Kotak, Zia Mody, Anish Shah, Lakshmi Venu, Salil Parekh, Rohit Jawa, and Nicolas Berggruen, representing sectors ranging from banking and healthcare to technology and hospitality.
