Narayana Hrudayalaya comes to Gurugram, Acquires Panacea Biotec Hospital for Rs 180 crore
The company has “entered into a definitive agreement to acquire 100 per cent stake in NewRise Healthcare Pvt Ltd from Panacea Biotec Ltd to announce its first hospital in Gurugram”, Narayana Hrudayalaya said in a BSE filing.
New Delhi: Narayana Hrudayalaya has entered into an agreement with Panacea Biotec to fully acquire its subsidiary NewRise Healthcare for an enterprise value of Rs. 180 crore.
The company has “entered into a definitive agreement to acquire 100 per cent stake in NewRise Healthcare Pvt Ltd from Panacea Biotec Ltd to announce its first hospital in Gurugram”, Narayana Hrudayalaya said in a BSE filing.
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.
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