Apollo Hospitals seems to be in good health today morning. Opening at Rs.1123, the stock climbed to an intra day high at Rs.1149 and continues to hover around the same levels.

The stock is in the green following its announcement that it is forming a partnership with Sanofi to offer diabetes management services through a chain of 'sugar clinics'. This will be through a JV - Apollo Sugar Clinics,  a subsidiary of Apollo Health and Lifestyle, where Sanofi proposes to buy 20% stake.

Under first phase, some 50 one-stop clinics for diabetes will be set up across India and the target is 100-150 clinics over next 2-3 years. Each clinic will entail an investment of anywhere between Rs.30-65 lakh.