Fortis to acquire 350 bedded Gurugram-based Medeor Hospital for Rs 225 crore
Gurugram: Fortis Healthcare Limited (''Company''), today, announced that it has signed definitive agreements with the VPS Group for the acquisition of its Medeor Hospital in Manesar, Gurugram, Haryana, (“Medeor Hospital”) for an overall purchase consideration of INR 225 Crore.The hospital has a potential bed capacity of 350 beds and can be operationalized in a phased manner in approx....
Gurugram: Fortis Healthcare Limited (''Company''), today, announced that it has signed definitive agreements with the VPS Group for the acquisition of its Medeor Hospital in Manesar, Gurugram, Haryana, (“Medeor Hospital”) for an overall purchase consideration of INR 225 Crore.
The hospital has a potential bed capacity of 350 beds and can be operationalized in a phased manner in approx. 9 months.
Also Read:Medeor Hospital, Manesar finally ready to begin services for coronavirus patients
The transaction entails the purchase of land, building and movable assets of Medeor Hospital in Manesar, Gurugram, owned by Medeor Hospitals Limited and is expected to close by end of July 2023, subject to the completion of certain conditions precedent as stipulated in the definitive agreements. The transaction will be funded through a mix of debt and internal accruals.
Saraf and Partners, Law Offices, acted as legal advisors for this transaction and MediConsult Capital acted as transaction advisors for this transaction.
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