We started our journey 34 years ago determined to build an institutionthat would offer to fellow countrymen high quality healthcare at affordable prices righthere in India. Healthcare that would be comparable to the best available in the West. Ican look back today and say with satisfaction that we have accomplished that mission. Wehave earned the trust of millions of people over three decades at all our hospitals spreadacross the country. We have left no stone unturned during this time to provide them theappropriate care to ease their suffering and protect their well-being.
In a country like India where a large proportion of the populationlives in rural towns and villages innovation in healthcare delivery is critical. I havealways said that the human body is priceless; that it is important to keep one's bodyheathy and pursue wellness in everyday life. In recent years Non-Communicable Diseaseshave fast become a roadblock to wellness. This is India's biggest healthcare burdenand if neglected can overwhelm the general population and become a severe threat to thecountry's productivity and socioeconomic progress. As India's leading healthservices provider we believe we have a responsibility in fighting this menace. We havealready differentiated ourselves at every touch point of the Patient Care cycle and ourpatient outcomes are comparable to the best in the world. We now want to revolutionize thehealthcare eco-system through newer ways of reaching India's masses in order to putthem on the road to wellness. We want to create and implement a strong digital strategy toenhance patient outreach and access customer experience and loyalty. We want to deployhigh-tech equipment to further improve outcomes while enabling patients to recover fasterthereby cutting short their stay in the hospital. We also want to strengthen consultantengagement focus on specialty forays and achieve distinction through advanced medicaltreatments.
We have taken some steps in this regard. We have partnered with theState Government of Andhra Pradesh in a PPP model to set up 164 Electronic Urban PrimaryHealth Centers that will address the healthcare needs of over 60000 Panchayats. The firstsuch center was set up in November 2016 and will enable poor and marginalized patients toaccess specialists through telemedicine facilities. We are making great effort to increaseawareness in these areas for early detection and screening and have provided high qualitydiagnostic facilities in their own neighbourhoods. This first of its kind initiative willleverage the benefits of digitalization of healthcare and render hope to ruralIndia.
Moving forward with the conviction that our efforts at innovationclinical expertise medical excellence and tender loving care are not just restricted totreating a particular symptom disease or patient but rather to holistically improving theoverall health quotient of our patients we have consolidated all our clinical assets inoncology into an independent integrated specialty practice under Apollo Cancer Institutes.These institutes will function from a common platform based on standard protocols whichwill ensure uniform quality of care for patients while elevating the track record andknowledge bank for specialists across the network. We are also now well poised to becomethe first provider of the revolutionary Proton Beam Therapy treatment for cancer cure inIndia. The machine is with us and we will launch the centre in 2018. This will servepatients in the UK Europe the Middle East Australia Singapore Malaysia and othercountries in South and South East Asia as it will be the only one of its kind in thisregion. This initiative exemplifies our Mission and our commitment to provide the bestpossible healthcare to put people on the road to recovery.
I would like to share with you our joy and pride in Apollo HospitalsGreams Lane Chennai receiving the
#1 Top Super Specialty Hospital in India ranking in India followed byApollo Indraprastha New Delhi in the #2 spot. Our hospitals were also ranked #1 MultiSpecialty Hospitals in Chennai Hyderabad and Bangalore. I am also pleased to state thatApollo Hospitals Greams Lane Chennai won the best Multi-Specialty Hospital Megapolis inthe country award at the ICICI Lombard & CNBC TV18 India Healthcare Awards 2016.
We launched our 480-bed hospital in Mumbai in November 2016. It is oneof the most advanced Multi-Specialty Tertiary Care Hospitals in the region and effectivelyrepresents the final leg of our current expansion plan which has resulted in an increaseof capacity by 30% with the addition of ~2500 beds over the last 3 years. We are pleasedto share that we have now crossed the milestone of 10000 beds capacity across our panIndia network. Our focus is to have a dominant market presence in all these locations overthe next 2 years by delivering superior clinical outcomes and service standards.
Growth in our Healthcare Services has been led by strong momentum atseveral of the newer facilities as new hospitals have reported 51% growth in revenues on ayear on year basis driven by strong growth in volumes.
The International Finance Corporation Washington DC along with itsassociates acquired a 29% stake in Apollo Health and Lifestyle Limited (AHLL). AHLL willexpand its network of clinics cradles and diagnostics centers all across India. It hasrecently introduced clinics specializing in stroke and elder care setting new pathbreaking trends in the retail health landscape.
The Standalone Pharmacy business revenues grew by 24% with EBITDAgrowth at 53%. Last year we added 285 stores and closed 55 stores for a net addition of230 stores. The total number of stores in our network is now 2556 on a pan India basis.
Despite some external setbacks the group had another good financialyear with consolidated annual revenues growing 17% to ` 73 billion and consolidated netprofits of ` 2 billion. Consolidated EPS for the year stood at
` 15.9. We are happy to declare a dividend of ` 6 per share for thefiscal year 2017.
Our journey is not yet over. We have a long way to go to achieve ourvision of bringing quality health care to India's masses. But I am confident that wehave made a good start and our fundamentals are robust enough to deliver that goal.
I thank you all for the trust you have reposed in our hospitals andthank each and every stakeholder for their continued support in our journey.
I wish you and your families all the very best of health and wellness.
With warm personal regards
Dr. Prathap C Reddy
Apollo Hospitals Group