Yatharth Hospital and Trauma Care Services said its board has approved the acquisition of 60 per cent stake in a Faridabad-based hospital, which is yet to commence operations, at an enterprise value of Rs 152 crore. The company’s board has approved to enter into an agreement with MGS Infotech Research and Solutions Pvt Ltd and its shareholders to acquire 60 per cent stake, the healthcare provider said in a regulatory filing.
The target company is yet to commence a 400-bed hospital in Faridabad, Haryana.
The acquisition will strengthen the company’s presence in Delhi-NCR, it said.
The structure of the Faridabad-based hospital is completed and expected to be operational in 6-10 months from the date of acquisition, it added.
On Wednesday, Yatharth Hospital announced that it has emerged as the successful bidder of a super speciality hospital located in Delhi.
The acquired hospital is a well-established hospital in Model Town, New Delhi, it had stated.
The hospital has an expandable capacity of 300-plus beds and caters to a large catchment of residential and institutional client base.
Source: Economic Times