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New Delhi, Jan 9 () Mortgage lender HDFC on Thursday said it has completed the acquisition of majority stake in Apollo Munich Health Insurance for Rs 1,495.81 crore.
 HDFC bought 50.80 per cent stake of Apollo Hospitals Group in Apollo Munich for Rs 1,485.14 crore and 0.36 per cent shareholding of employees for Rs 10.67 crore.
 On January 2, HDFC had informed that the company and its subsidiary HDFC ERGO has got approvals for acquiring a majority shareholding in Apollo Munich.
 "Subsequent to this approval (regulatory), Apollo Munich Health Insurance Co Ltd has been renamed as HDFC ERGO Health Insurance Ltd (HDFC ERGO Health) and will operate as a subsidiary of HDFC Ltd," HDFC said in a regulatory filing on Thursday.
 The acquisition comes after approvals from the Competition Commission of India, the RBI and the Insurance Regulatory and Development Authority of India.
 Anuj Tyagi, Executive Director &amp; Chief Business Officer at HDFC ERGO General Insurance Company (HDFC ERGO General) has been appointed as the Managing Director and CEO of HDFC ERGO Health, subject to approval from Irdai.
 HDFC ERGO Health and HDFC ERGO General will shortly apply to the National Company Law Tribunal (NCLT) for their merger, HDFC said.
 Post merger, the resultant entity will be the second largest private insurer in accident and health segment in the country, it said.
 "We are committed to create value for all our stakeholders with the combined strength of the brand HDFC and expertise of Apollo Munich in health insurance," said HDFC Chairman Deepak Parekh.
 Shobana Kamineni, Chairperson of Apollo Munich and Vice Chairperson, Apollo Hospitals Enterprise exuded confidence that the company will become stronger under HDFC.
 Apollo Munich Managing Director Antony Jacob will move to Apollo Hospitals Group.
 "The acquisition provides HDFC ERGO with the opportunity to grow by increasing its footprint and distribution network, in line with its strategic objective to be amongst the top private insurers in the industry.
 "Policy holders and channel partners will benefit from enhanced product suites, touch points and technology innovations," said Markus Rieb, Chairman, ERGO Group AG and board member of Munich Re.
 HDFC stock settled at Rs 1,270.80 on the BSE, up 1.09 per cent from the previous close. KPM KPM ANU
ANU

HDFC completes majority acquisition in Apollo Munich

New Delhi, Jan 2 () The country's largest mortgage lender <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> Ltd on Thursday said the company and its subsidiary <keyword id="207030" type="COMPANY" weightage="20" keywordseo="HDFC-ERGO">HDFC ERGO</keyword> have got approvals for acquiring a majority shareholding in <keyword id="6369255" type="PERSON" weightage="20" keywordseo="Apollo-Munich">Apollo Munich</keyword> Health Insurance Co Ltd. According to the <keyword id="30334" type="ORGANIZATION" weightage="20" keywordseo="acquisition">acquisition</keyword> deal, HDFC will acquire majority stake in <keyword id="6382967" type="UNKNOWN" weightage="20" keywordseo="Apollo">Apollo</keyword> Munich from the Apollo Hospitals Group for Rs 1,347 crore and will merge the company with its arm HDFC ERGO. HDFC will acquire 50.8 per cent from the Apollo Hospitals group for Rs 1,336 crore and will buy out the 0.4 per cent stake being held by the employees for Rs 10.84 crore.
 Besides, the German insurer Munich Health will pay Rs 294 crore to Apollo Hospitals Enterprise and Apollo Energy for terminating their joint venture.
 On June 19, 2019, share purchase agreements (SPAs) in this regards were signed among HDFC ERGO General Insurance, HDFC Ltd, Apollo Munich Health Insurance (AMHI), Apollo Hospitals, Apollo Energy Co Ltd, Munich Health Holdings AG and other shareholders of AMHI with regard to acquisition of up to 51.2 per cent shareholding of AMHI by HDFC.
 The SPAs were subject to approvals from the Competition Commission of India (CCI), the Reserve Bank of India (RBI), and the Insurance Regulatory and Development Authority of India (Irdai) besides other regulatory approvals and subsequent merger of AMHI with HDFC ERGO.
 "In this connection, we wish to inform that the company (HDFC ERGO), AMHI (or Apollo Munich) and HDFC have received requisite approvals for the said acquisition from CCI, RBI and last being from Irdai on January 1, 2020," HDFC ERGO said in a regulatory filing through HDFC.
 HDFC also said, "(It) and HDFC ERGO have received all requisite approvals for the said acquisition including CCI, RBI and last being Irdai on January 1, 2020."
 It also added that after the completion of the proposed acquisition, AMHI would be merged with and into HDFC ERGO, subject to the approval of the National Company Law Tribunal.
 HDFC ERGO said Irdai has granted the approval, among others, for change of name of AMHI to HDFC ERGO Health Insurance Co Ltd or such other name as may be approved by the Ministry of Corporate Affairs.
 "In accordance with the SPA, the acquisition of shares by HDFC is expected to be completed by January 9, 2020," HDFC ERGO said.
 Stock of HDFC traded at Rs 2,449.60 on the BSE, up 0.65 per cent from the previous close. KPM HRS

HDFC set to acquire majority stake in Apollo Munich

<ul><li>HDFC acquired a 51% stake in health insurer Apollo Munich for Rs 13.36 billion.</li><li>It will merge with general insurance company HDFC Ergo.</li><li>The combined entity will have a market share of 8.2% in health and accident segments.</li><li>It will merge with general insurance company HDFC Ergo.</li><li>The combined entity will have a market share of 8.2% in health and accident segments.</li></ul>HDFC has acquired a 51% stake in health insurer Apollo Munich for ₹13.36 billion. The mortgage lender will merge it with its own general insurance company HDFC Ergo, making this combined entity the second largest private insurer in the accident and health segment. This merger comes after the government has been trying to formalise the plan to merge three of its general insurers---New India Assurance, United India Insurance, National Insurance and Oriental Insurance Company to <a href="https://www.financialexpress.com/industry/banking-finance/experts-back-merger-of-new-india-assurance-national-insurance-united-india-and-oriental-india-insurance-company/1607907/">unleash economies of scale</a>. Now, private players have seem to have taken a cue to become bigger and stronger. The combined entity of HDFC Ergo and Apollo Munich will have a market share of 8.2% in health and accident segments. In the non-life insurance segments, it will have a market share of 6.4%. “The combined expertise of HDFC ERGO and Apollo Munich will result in greater product innovation, wider distribution and enhanced servicing capabilities, benefiting their 1.2 crore policy holders,” said <keyword id="6448020" type="DEFINITION" weightage="20" keywordseo="Deepak-Parekh">Deepak Parekh</keyword>, Chairman of HDFC Ltd and HDFC ERGO General Insurance. This acquisition is subject to approval from various regulators including National Housing Bank (NHB), Insurance Regulatory and Development Authority of India (IRDAI) and Competition Commission of India (CCI). Munich Health Germany which is a partner of Apollo will also pay ₹2.94 billion (₹294 crore) to Apollo Hospitals Enterprise and Apollo Energy to support the transaction. “The funds from the divestment will enable us to focus on investing and growing our core healthcare business,” said Shobana Kamineni, Chairperson Apollo Munich Health Insurance and Vice Chairperson Apollo Hospitals Enterprise. This merger would make one player less in India’s crowded general insurance where there were 34 players, before this deal. However, the number of people who have any kind of insurance in the country are less than 3.69% of the population, according to the latest annual report from the regulator, Insurance Development Authority of India (IRDAI).

India had 34 general insurance companies till now-- there will be one less after HDFC’s ₹13.3 billion deal to buy Apollo Munich

In what is first for a health insurance policy, <keyword id="6369255" type="PERSON" weightage="100" keywordseo="Apollo-Munich">Apollo Munich</keyword>’s new policy would also be covering the costs of illnesses that are treated abroad. 
Apollo Munich is all set to launch Critical Advantage, a new health policy which covers eight critical illnesses that are treated abroad. Under the new policy, the insured people will be paid for travel and accommodation expenses for themselves and one person accompanying them, along with the cost of the treatment. 
 
The new policy comes as a rider with Optima Restore or Easy Health policy of above 10 lakh and is available for a sum assured either of Rs 1.5 or Rs 3 crore. 
 "While people have this fear of how to choose the best healthcare facility, they also wonder how to fund their travel cost," Antony Jacob, CEO, <keyword id="498413" type="COMPANY" weightage="100" keywordseo="Apollo-Munich-Health-Insurance">Apollo Munich Health Insurance</keyword>, told ET. 
 
"There are instances when Indians choose to travel for treatment, but accommodation for the accompanying family members becomes a big concern," he said. 
 
The illnesses covered under the new policy are cancer, heart replacement or repair, bone marrow transplant, neurosurgery, coronary artery bypass surgery, pulmonary artery graft surgery and aorta graft surgery under the cashless scheme. 
 
The insurer will also be providing assistance in determining treatment, travel and accommodation of the insured person. There is a second opinion option also included in the plan. 
 
<a href="https://yt3.ggpht.com/-zTgJo3wkBDo/AAAAAAAAAAI/AAAAAAAAAAA/dHQ0qwW5J0U/s900-c-k-no/photo.jpg">Image source</a>

Apollo Munich announces new insurance policy to cover overseas treatment

This year as many eagerly await the monsoons, if only to snuggle up to loved ones and munch hot pakoras, it’s not so rosy for most across the country. More than 50,000 cases of dengue were registered last year, with many ending in fatalities. The number of unregistered cases is as high as 6 million. 
 <keyword id="6369255" type="PERSON" weightage="100" keywordseo="Apollo-Munich">Apollo Munich</keyword> today launched the country’s first exclusive over the counter <keyword id="6362363" type="ORGANIZATION" weightage="100" keywordseo="health-insurance">health insurance</keyword> policy for an infectious disease like Dengue. The policy covers both hospitalization and outpatient expenses and is available at a premium of Rs. 444, and provides Rs. 50,000 inpatient and Rs. 10,000 OPD coverage. 
 
“Our estimate suggests that a Dengue patient incurs an expense of Rs. 30,000-45,000, and the diagnostics cost 5000-10,000 based on the city you live in”, Antony Jacob, CEO, Apollo Munich said. 
 
The insurance plan would require no medical test, just a 15 day waiting period to ensure infected people don’t sign up. The plan comes with cashless facility in 4,000 hospitals across India. For others, claims would be reimbursed in 7 days. While it’s an individual policy, one could apply for up to 6 people in the same proposal. 
 “For those already with a <keyword id="6465570" type="UNKNOWN" weightage="100" keywordseo="medical-insurance">medical insurance</keyword>, they could have this as an additional package so that they don’t lose their bonuses when they claim for a dengue case. It’s annually renewable, and is available life-long”, Jacob observed. 
 
Brand ambassador Sourav Ganguly shared his experience with Dengue, “Having seen my daughter go through dengue a few years ago, and the anguish it causes, I urge everyone to pledge their platelets for helping people suffering from dengue and who need to replenish the lost platelets.” 
 
When jokingly asked if he’d go shirtless again like he did at Lords as doctors advise wearing full sleeves to protect against dengue, he chortles, “That was 14 years ago, and we still remember that!”

Apollo Munich launches affordable insurance for Dengue

Yesterday, Loop- <keyword id="1165142" type="UNKNOWN" weightage="60" keywordseo="Practo">Practo</keyword>’s annual conference took place in Delhi where healthcare stakeholders got together to discuss and try to solve the biggest challenges in healthcare. 
 
The key discussions at Loop revolved around ‘creating a successful tele-health network’, ‘bridging the gap between payers and providers’, and medical regulations. 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> caught up with <keyword id="1165145" type="UNKNOWN" weightage="100" keywordseo="Shashank-ND">Shashank ND</keyword>, CEO &amp; Co-founder, <a href="http://www.businessinsider.in/This-funding-round-is-important-for-Practo-to-become-a-600-million-value-startup/articleshow/53076623.cms">Practo</a> to find out how the sector is evolving; especially after the start-ups have come in. 
 Shashank highlighted some of the conversations,’ We got together India’s Top hospitals, <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">Insurance</keyword> providers, and healthcare companies on the same platform to discuss how technology can solve the healthcare problems in the country namely, affordable &amp; quality care.’ 
 
<a href="http://www.businessinsider.in/Delivery-technology-from-drones-to-bots-what-will-deliver-your-e-commerce-packages-in-the-future/articleshow/54044952.cms">ALSO READ: From drones to bots- What will deliver your future?</a> 
 He also elaborated on the discussions, ’Dr. Velumani, CEO, Thyrocare shared some insights on innovations pertaining to standardization of cost structures. Mr. Ramachandran , Deputy CEO, <keyword id="6369255" type="PERSON" weightage="20" keywordseo="Apollo-Munich">Apollo Munich</keyword> talked about standardisation of medical supplies.’ 
Shashank lamented that many regulatory frameworks need to be thought out internally for the internet companies in this space. ‘We need to self-regularize so that we can help the government understand how we work. Loop was an attempt in that direction’ 
 
Shashank agrees that healthcare is a hot sector for start-ups, ’Medical devices start-ups in India are creating good quality, low-cost devices for the masses. We are excited to integrate with a lot of Patent-pending technology start-ups.’ 
 ’<keyword id="108593" type="TECHNOLOGY" weightage="20" keywordseo="telemedicine">Telemedicine</keyword> is also coming up in a big way; many patients don’t mind a new way of interaction with their doctors, they are already using social networks like <keyword id="6354576" type="CITY" weightage="20" keywordseo="Facebook">Facebook</keyword> and <keyword id="790242" type="UNKNOWN" weightage="20" keywordseo="WhatsApp">Whatsapp</keyword> to get consultation.’ 
 
Our biggest challenge is to allay the fears related to technology platforms. Adoption of tech is a problem, still, a lot of hospitals are not open to changing their processes to accommodate technology. 
 
<a href="http://www.businessinsider.in/Exclusive-Practo-co-founder-Shashank-ND-says-his-startup-will-be-profitable-next-year/articleshow/51991002.cms">Practo has been at it for 8 years</a>; trying to use technology to solve the biggest problems in terms of mobility and reach in the healthcare sector, but there’s a long way to go to reach a billion lives.

Exclusive:Practo's Shashank ND says technology startups can solve the country’s biggest healthcare challenges

Many <keyword id="35450" type="COMPANY" weightage="40" keywordseo="insurance">insurance</keyword> companies are offering maternity covers as a part of their regular health policies these days. Earlier, maternity benefits were extended only as a part of employers’ corporate health insurance policies. 
 However, companies like ICICI Lombard, <keyword id="6395721" type="COMPANY" weightage="40" keywordseo="Max-Bupa">Max Bupa</keyword> and <keyword id="6369255" type="PERSON" weightage="80" keywordseo="Apollo-Munich">Apollo Munich</keyword> have started offering this cover, with sub-limits ranging from Rs 15,000-50,000. However, these products are costly and have a long waiting period of up to six years. 
 
Does it make sense to buy them? “Individuals can buy maternity cover if their employer’s insurance doesn’t cover it. Even selfemployed people should consider buying it. However, they should evaluate whether the cost and waiting period, after which such a cover is available, are reasonable,” says Arvind Laddha, CEO, Vantage Insurance Brokers. 
 
What Does it Cover? 
 
Maternity cover takes care of expenses related to delivery (normal and caesarean section) or the lawful medical termination of pregnancy during the policy period. However, there could be conditions limiting the number of deliveries or terminations, either during the lifetime of the insured person or the policy period, says Antony Jacob, CEO of health insurer Apollo Munich. Pre and post-natal expenses per delivery or termination are also covered. 
 
Depending on the insurer and the product variant, WHO-approved vaccinations and medical treatment for the new born till 90 days or the next renewal will also be paid for. If your policy entitles you to daily cash hand-outs, you can use it to take care of your sundry expenses too. “If the insured person chooses the room type wisely, an additional sum as daily hospital cash can be used for other related expenses like medicines,” says Jacob. 
 
According to Max Bupa, a rise in maternity claims points to the relevance of the policy. “We have noted an almost 50% increase in claims related to maternity in the last year. 
 
Coverage for maternity-related expenses is gaining importance with increase in medical costs as well as maternal age and greater incidence of lifestyle diseases that may lead to complications at the time of pregnancy,” says Manasije Mishra, CEO, Max Bupa. 
 
Sanjay Datta, chief, underwriting and claims, ICICI Lombard General Insurance, also believes that the policy is worth its premium because “it not just takes care of the hospitalisation costs, but also the insured’s pre and post-natal expenses.” 
 
The company’s claim figures indicate a sharp increase in maternity claims in 2013. 
 
While delivery-related claims went up by 36.52% from 2012, claims paid out for treatment of complications in new born babies shot up by nearly 46%. 
 
Read the Fine Print 
 
“Generally, maternity covers are restricted to maximum 10% of the overall sum insured and the cover is available only in the third year of continuous coverage. Waiting periods extend to over two years. The insured should evaluate whether the premium is worth the benefit of taking this cover,” says Laddha. 
 
Prospective buyers should examine sub-limits, or ceiling, for maternity cover closely. Most insurers impose caps of Rs 15,000-25,000 for normal deliveries and Rs 30,000-Rs 50,000 for Caesarean section deliveries. 
 
Similarly, admissible preand post-natal expenses, too, could be limited to Rs 1,500-5,000. Waiting period — when maternity benefits are not paid — usually ranges from two to six years. “If the waiting period is low, there is a higher cost associated with the plan,” says Jacob. 
 
Policies that offer maternity covers are still costlier than regular ones. For example, under Max Bupa’s family floater product, the annual premium for a 30-year-old woman seeking a cover of Rs 5 lakh with maternity benefits will be Rs 14,816 (in a family of two adults). Without this component, it will be cheaper by around Rs 2,000-3,000. Similarly, in case of ICICI Lombard, the floater cover without maternity benefits will be cheaper by around Rs 7,000, while the difference is Rs 1,000 under Apollo Munich’s individual policy.

With Rising Costs, It May Pay To Buy A Separate Maternity Cover

<keyword id="35450" type="COMPANY" weightage="40" keywordseo="insurance">Insurance</keyword> companies are gradually warming up to the idea of offering specially-designed health insurance policies to individuals with health conditions such as <keyword id="6359018" type="UNKNOWN" weightage="40" keywordseo="diabetes">diabetes</keyword> and hypertension, among others. 
 Recently, standalone health insurer <keyword id="6369255" type="PERSON" weightage="60" keywordseo="Apollo-Munich">Apollo Munich</keyword> launched a health insurance plan specifically targeted at individuals suffering from diabetes and hypertension, among other conditions. 
 In August, New India Assurance had announced that it would not charge additional premium for those suffering from diabetes and hypertension at the time of buying its regular <keyword id="28351" type="ORGANIZATION" weightage="60" keywordseo="policy">policy</keyword>. Star Health had introduced products aimed at HIVpositive individuals and those suffering from diabetes much earlier. 
 
However, the big question is whether one should sign up for these special plans or settle for regular insurance plans with extra premium and/or restrictions on pre-existing diseases. “Illness-specific plans are not meant to cover those who can obtain regular covers. Only those insurance-seekers who are not eligible for regular health policies will evince interest in them,” Antony Jacob, CEO, Apollo Munich Insurance. 
 
Regular health insurance policies do extend coverage to pre-existing ailments, but only after a waiting period ranging of up to four years. The focussed covers, on the other hand, eliminate the waiting period. 
 
However, they impose other restrictions like co-pay — where the policyholder has to share the claim burden, and sub-limits on room rent. They may also specify the treatment expenses covered. Apollo Munich’s product requires policyholders to either accept the co-pay clause or pay a higher premium. 
 Such plans also specify the degree of ailment’s progression or type. For instance, these plans do not cover Type I diabetes. Similarly, the plan meant for HIV-positive individuals will not be extended if their CD 4 count at the time of entry is lower than 350. “Even regular policies sell covers to individuals with pre-existing ailments, provided they are perceived as low risk. Only those individuals whose illness has reached a degree where they fall in the highrisk category will be denied a regular cover. Such illness-specific plans may be more suited to the latter category,” says Sanjay Datta, chief, underwriting and claims, <keyword id="144335" type="POSITION" weightage="40" keywordseo="ICICI-Lombard-General">ICICI Lombard General</keyword> Insurance. 
 
Article Courtesy: www.economictimes.com

Health insurance: Should one go for disease-specific cover or a regular policy

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul class="summary-list"><li>Apollo astronauts are celebrating the upcoming 50th anniversary of Apollo 11 and the first <a href="https://www.businessinsider.com/category/moon-landing">moon landing</a>.</li><li>Charlie Duke, an <a href="https://www.businessinsider.com/category/astronauts">astronaut</a> who flew on NASA's <a href="https://www.businessinsider.com/category/apollo">Apollo</a> 16 mission, said the scariest moment of his life occurred while "horsing around" on the moon in April 1972.</li><li>Lunar gravity is about one-sixth as strong as Earth's, so Duke tried to set a long-jump record that no athlete at the 1972 Olympics could break.</li><li>But Duke fell backward upon landing. If he'd broken his life-support backpack, the mishap would have killed him.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>July 20 marks the <a href="https://www.businessinsider.com/apollo-astronauts-50th-moon-landing-anniversary-photos-2019-4">50th anniversary</a> of the first crewed moon landing. As the big moment approaches, Apollo astronauts are touring planet Earth to discuss and celebrate NASA's historic achievement.At a recent event with some of these astronauts at the <a href="https://www.cradleofaviation.org/plan_your_visit/apollo/countdown-to-apollo-at-50.html">Cradle of Aviation Museum</a> in New York, Charlie Duke, who piloted the lunar-landing module during Apollo 16, told Business Insider about what he considers the scariest moment of his life."It was a 1972, and there was going to be the Olympics in Munich that year, so we were going to do the 'Moon Olympics,'" Duke, who was the youngest person to walk on the moon at age 36, said.But Duke hadn't practiced a key move in his unwieldy spacesuit. This led to a clumsy fall that he said could have split open the only barrier between himself and the vacuum of space - which would have killed him.<h2>Duke's near-deadly high jump</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>At the Cradle of Aviation Museum - where one of <a href="https://www.businessinsider.com/nasa-apollo-moon-mission-lunar-module-locations-museums-2019-6">three remaining lunar landers</a> bound for the moon is on display - we interviewed a handful of astronauts about <a href="https://www.businessinsider.com/apollo-astronauts-react-nasa-trump-2024-moon-landing-plan-2019-6">what they think</a> of President Donald Trump's plan to land humans back on the moon in 2024 and what they believe would be Earth's next big "Apollo moment" might be.We also asked each astronaut for a relatively little-known story from their missions. One of Duke's anecdotes, which is also detailed in his 1990 book "<a href="https://www.amazon.com/Moonwalker-Astronaut-Enough-Satisfy-Success/dp/0840791062">Moonwalker</a>," stood out.Duke said that he and his commander, John Young, decided to use the final minutes of a spacewalk on the moon to beat several Earth-based feats of human athleticism. This is possible, of course, because lunar gravity is just one-sixth as strong as that of Earth's."We just started out doing the high jump," Duke said.They were just "horsing around," Duke said, but he was able to leap 4 feet into the air - an impressive height for anyone, especially a person wearing a bulky spacesuit. However, Duke said he straightened his body mid-jump, and that turned out to be a huge mistake.The lunar-surface spacesuits Apollo astronauts wore weighed more than 300 pounds each on Earth. This wasn't as much of an issue on the moon due to its weaker surface gravity; the suits there weighed about 50 pounds. Still, the Apollo spacesuit's backpack made up more than half of that mass, which created balance issues (especially for leaping humans)."The backpack weighed as much as I did. So I went over backwards," Duke said. "It's a fiberglass shell, and it contained all your life support systems. If it broke, I was dead."Duke said he rolled right to break his fall, yet still bounced onto his backpack, also called the portable life support system or PLSS.If he'd cracked his PLSS or torn his suit, that would have caused a "hiss-out" or loss of breathable air. This would have knocked Duke unconscious and likely killed him before Young could drag him back to the lunar module, close the airlock, and pressurize the spacecraft."My heart was pounding. John Young, my commander, came over and looked down and says, 'That wasn't very smart, Charlie.' And I said, 'Help me up, John,' and I got real quiet," he said.Duke said that once he got up, he listened to the sounds of the PLSS to determine whether anything had broken."You could hear the pumps running. And I said, 'Well, I think I'm okay,'" he said, adding: "I learned a lesson: Never do anything in space that you haven't practiced, and we had not practiced the high jump."A TV camera <a href="https://www.youtube.com/watch?v=16D0hmLt-S0">recorded</a> Duke's terrifying moment, though equipment blocks a view of Duke's fall.<h2>Falling on the moon</h2>This wasn't Duke's only fall on the moon: He also <a href="https://www.youtube.com/watch?v=MU0Rgpdujzo">fell face-first</a> while trying to poke an instrument called a penetrometer into the lunar surface. And he tumbled over after hopping down to <a href="https://www.hq.nasa.gov/alsj/19730008098_1973008098.pdf">pick up a pair of tongs</a> (which he'd retrieved to pick up a hammer that he'd dropped moments before).Other astronauts also floundered on the moon - humans had never before worked in lunar gravity, which made objects and bodies behave abnormally.Plus, despite months of intense training, the Apolo astronauts often struggled in their heavy, stiff, and unwieldy spacesuits. In many ways, wearing such a suit is akin to working in an over-inflated and rigid balloon. Stooping to pick up an object with the gloves was practically impossible, so astronauts had to rely on other tools. They also needed to hop in order to crouch down, using the landing from the hop to compress their inflated and springy suits (which fought against normal movement).The video below, which shows the hop-and-crouch trick, is an entertaining - and at times frightening - supercut of astronauts falling all over the moon.For future missions to the moon and Mars, NASA and aerospace companies are <a href="https://www.businessinsider.com/spacesuit-design-history-timeline-changes-nasa-2018-3">designing new spacesuits</a> that are lighter, better balanced, and more flexible to accommodate typical human motions.With any luck, engineers will make silly (and potentially life-threatening) stumbles outside any future NASA <a href="https://www.businessinsider.com/category/artemis">moon base</a> or SpaceX <a href="https://www.businessinsider.com/mars-colonization-human-survival-radiation-food-biosphere-2018-4">city on Mars</a> a rarity.<div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/elon-musk-mars-starship-spacex-starhopper-rocket-moon-2019-6">Elon Musk's multibillion-dollar Starship rocket could one day take people to the moon and Mars</a></h3> <div> </div> </div>

An Apollo astronaut explains how he nearly killed himself 'horsing around' on the moon in 1972

SoftBank Vision FundDeep Nishar, senior managing partner at SoftBank Investment Advisers.<ul class="summary-list"><li>SoftBank Investment Advisers managing partner Deep Nishar defended the firm's investment in office-sharing company WeWork, describing the core idea as "very, very good" at the DLD conference in Munich.</li><li>Nishar also acknowledged governance issues at WeWork, which canceled its IPO and pushed out its cofounder Adam Neumann before taking up a rescue deal from SoftBank in late 2019.</li><li>SoftBank is the biggest shareholder in WeWork, having stumped up around $13 billion for the company to date. </li><li>After the rescue deal, WeWork fired 2,400 employees in November and the firm remains in turnaround mode.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>SoftBank is still bullish on WeWork.Deep Nishar, senior managing partner at SoftBank Investment Advisers, described the core idea behind WeWork as "very, very good" onstage at the DLD conference in Munich on Saturday while acknowledging the firm's governance issues.SoftBank Investment Advisers manages the $100 billion Vision Fund, and the company is one of the biggest shareholders in WeWork.Asked at DLD about WeWork, Nishar described the situation as "naturally complex" and noted that the Vision Fund had invested in more than 80 companies."You're going to get the bad news first, that's what happens. The companies that are not doing well, you're going to get [that] news sooner, and the companies that are doing really well, you'll hear about them later," Nishar said."We don't expect all 80-plus investments that we have to be amazing successes," he added, going on to note that eight SoftBank-funded firms had gone public, including Guardant Health and Slack.He continued: "We've had really good outcomes, and then things like WeWork which haven't gone quite the way we planned, but we are still in it, we are involved, we are helping the company because we believe the idea at its core is very, very good and they had some governance and execution challenges that we are going to help solve with the next set of management."Michael Kovac/Getty Images for WeWorkFormer WeWork CEO Adam Neumann.WeWork's core proposition is to take out long-term leases on buildings and fit them up to rent out to larger enterprises or smaller startups. The company spiraled to a $47 billion valuation - <a href="https://www.businessinsider.com/leaked-audio-shows-softbank-hyping-up-weworks-valuation-to-100-billion-in-2018-2019-9?r=US&amp;IR=T">one SoftBank executive predicted a $100 billion valuation</a> - puzzling critics who pointed out that WeWork was no different from any other office-leasing company.The firm filed for IPO in August 2019 but pulled the float after intense public criticism of its business model and numbers. Then-CEO and cofounder Adam Neumann was pushed out after a string of lurid stories about his conduct and personality, and WeWork is now run by co-CEOs Artie Minson and Sebastian Gunningham.SoftBank <a href="https://www.businessinsider.com/softbank-agrees-to-rescue-wework-in-a-bailout-deal-2019-10?r=US&amp;IR=T">eventually took control of the company in October 2019</a> in a deal that saw WeWork's valuation plummet to around $8 billion.You can hear Nishar's comments in full here:<a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=wework&amp;itm_campaign=40-big-tech-predictions-for-2019-2"></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-spacex-blew-up-rocket-on-purpose-2020-1">SpaceX and NASA just blew up a Falcon 9 rocket on purpose, and it has something to do with Apollo 1</a></h3>

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An Apollo astronaut explains how he nearly killed himself 'horsing around' on the moon in 1972

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