

The Lanka Hospitals Corporation which owns Apollo hospital in Colombo it will end its deal with India’s Apollo Hospitals Enterprises next week and stop using the Apollo brand name, the owning company said in a Stock Exchange filing on Friday.
The company said in the filing that its licensing and support services agreement with Apollo Hospitals Enterprises expires on November 16.
The hospital will stop using the Apollo brand name and logo and will be renamed Lanka Hospitals, the statement said.
There was no word on how much the deal with Apollo was costing Lanka Hospitals.
The move comes in the wake of the hospital coming under state control following a court order.
In August a new board was appointed to the hospital including Defence Secretary Gotabhaya Rajapaksa who was named chairman of the owning company after ownership of the Sri Lanka Insurance Corporation, which controlled the hospital, reverted to government.
Sri Lanka Insurance Corporation went back under state control in June after the Supreme Court reversed an earlier privatization to the Distilleries group run by tycoon Harry Jayawardena, saying the deal was flawed.
Distilleries group had bought control of Sri Lanka Insurance Corporation which in September 2006 wrested control of Colombo’s Apollo Hospital which was built by the Indian healthcare firm of the same name.
Apollo then sold out its own 30 percent stake, but the hospital group was retained as a technical partner initially and its name continued to be used by the hospital. (LBO)