Narayana Hrudayalaya comes to Gurugram, Acquires Panacea Biotec Hospital for Rs 180 crore

NewRise Healthcare has set up a multi-speciality hospital in Gurugram which is in final stages of completion and is expected to be commissioned within the next nine months.

This transaction is intended to consolidate Narayana Hrudayalaya’s footprint in the northern cluster.

“This development is a step forward in the direction towards reinforcing the newly formed Northern cluster. It also echoes our group’s commitment towards developing this region as vibrant as the existing Karnataka and Eastern clusters,” Narayana Hrudayalaya Vice-Chairman, MD and Group CEO Ashutosh Raghuvanshi said.

The group believes its recent ventures in NCR will help it target this key region more efficiently while accelerating trajectory to become a true pan-India healthcare service provider, he added.

Medical Dialogues team had earlier reported that Narayana Hrudayalaya signed an agreement with Dharamshila Cancer Foundation and Research Centre for providing healthcare services.

Founded in 2000 by Devi Prasad Shetty, Narayana Hrudayalaya has a network of 23 hospitals and 7 heart centres across India and a single hospital overseas at Cayman Islands with over 5,700 operational beds across all its centres.

Shares of Narayana Hrudayalaya were trading 0.39 per cent lower at Rs. 317.10 per scrip, while Panacea Biotec’s stock was trading 3.58 per cent higher at Rs. 164.80 apiece on the BSE.

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