The Apollo Hospitals Group initiative to provide quality tertiary healthcare in semi-urban and rural areas has won the ‘G20 Challenge on Inclusive Business Innovation’.
The group showcased Apollo Reach Hospital, Karimnagar, Andhra Pradesh, in a competition launched by the Group of 20 and International Finance Corporation (IFC). Apollo is the only healthcare organisation to win this honour, according to a press release here.
Apollo Reach Hospitals operate in tier-II cities and offer medical care at rates up to 30 per cent lower than what is charged by other major hospitals, mainly through cross-subsidy.
The award was presented at the recently-held G20 Summit at Los Cabos, Mexico.
An independent panel selected 15 Challenge winners based on innovation, developments, potential for growth and financial and social sustainability.
The online competition was launched to find the best examples worldwide of businesses in developing countries that provide critical goods, services and livelihood opportunities in financially, environmentally and socially sustainable ways to those living at the bottom of the pyramid, called ‘inclusive businesses’. The G20 Challenge on Inclusive Business Innovation recognised businesses with innovative, scalable and commercially viable ways of working with low-income people in developing countries.
Preetha Reddy, managing director, Apollo Hospitals Group, said: “We are extremely proud to be recognised by the G20 for our efforts in bringing about a visible change in the lives of people living at the bottom of the pyramid. More than 25 per cent families in India live on the margins, spending less than $70 a month on goods and services.”
Keywords: urban and rural healthcare