Apollo Hospitals Enterprise has proposed the appointment of promoter director Shobana Kamineni as the Executive Chairperson of its upcoming medical equipment subsidiary, Apollo Healthtech. The move forms part of the healthcare major’s broader restructuring strategy aimed at unlocking value across its various business verticals.
According to a regulatory filing, the appointment is subject to approval from shareholders. Kamineni, who currently serves on the board of Apollo Hospitals Enterprise, is expected to steer the next stage of growth for the company’s medical devices and healthcare solutions business.
The proposed leadership change comes as Apollo Hospitals advances plans to reorganise its operations by creating independent growth platforms through the separation and listing of select businesses. In 2024, the company had announced its intention to demerge and publicly list its digital health and pharmacy business within a period of 18 to 21 months.
As part of this strategy, Apollo Healthtech will house the group’s medical equipment and healthcare solutions operations. The company aims to complete the listing of Apollo Healthtech by the end of FY27, subject to obtaining all necessary regulatory and shareholder approvals.
Apollo Hospitals has set an ambitious target for the new entity, projecting annualised revenues of nearly ₹25,000 crore by the time of its proposed market debut. The goal reflects the company’s expansion plans in the healthcare technology and medical devices segment.
The company also outlined the governance framework planned for Apollo Healthtech. It stated that independent directors will account for at least half of the board’s composition. In addition, promoter and investor nomination rights will be linked to a proposed minimum shareholding threshold of 10%.
The exchange filing further noted that the board structure would include the appointment of a Lead Independent Director. This role is intended to strengthen independent oversight and facilitate effective engagement with shareholders. Apollo Hospitals added that a dedicated board-level committee would periodically review the board’s composition to ensure it remains aligned with regulatory requirements and stakeholder expectations.
Through this restructuring exercise, Apollo Hospitals aims to simplify its organisational structure, improve operational focus, and reinforce governance practices ahead of Apollo Healthtech’s planned public listing.
The proposed appointment of Shobana Kamineni and the planned listing of Apollo Healthtech signal Apollo Hospitals’ intent to build specialised, independently managed healthcare businesses. If executed as planned, the restructuring could position Apollo Healthtech as a significant player in India’s growing medical technology landscape while enhancing long-term value for shareholders.
(Photo courtesy: apollohospitals.com)