New Delhi, Jan 23 (IANS) Leading Indian hospital chain Apollo will mange the Indira Gandhi Memorial Hospital located in Maldives' capital Male for 15 years and help develop it as a destination for healthcare and wellness services.

Maldives President Mohamed Nasheed and Apollo Hospitals chief Prathap C. Reddy signed the agreement Saturday, the hospital said in a statement.

'As a high-end tourist locale, I would say that Maldives is well positioned for global medical value travel. We are confident that it would be an important step towards broadening the economic base of the country,' Reddy said.

During the management tenure of 15 years, Apollo will work closely with Maldives in developing the Indira Gandhi Memorial Hospital as a destination for healthcare and wellness services, research and development, and medical education. The services shall cater to both the local population and foreigners.

Speaking on the occasion, Nasheed said that he is optimistic that hospital and his country will emerge as a global healthcare destination.

The Indira Gandhi Memorial Hospital is a state owned hospital in Male. A gift from the Indian government, the 275-bed hospital has been providing a range of basic and specialty services since 1999.