By: IPP Bureau
Last updated : December 20, 2023 11:04 pm
Additionally, Rs. 12.85 crores shall be infused into the P H Diagnostic by way of either Equity or Loan to pay the existing debt
The Board of Directors of Vijaya Diagnostic Centre Limited have considered and approved the terms and conditions of the Share Purchase agreement (SPA) between Vijaya Diagnostic Centre Limited, P H Diagnostic Centre Private Limited and its Promoters/Shareholders (Sellers) for the acquisition of 100% stake in P H Diagnostic. Post completion of the aforesaid acquisition, P H Diagnostic will become wholly-owned subsidiary of the Vijaya Diagnostic.
Cost of acquisition of 100% shares from the existing shareholders of P H Diagnostic is Rs. 134.65 crores. Additionally, Rs. 12.85 crores shall be infused into the P H Diagnostic by way of either Equity or Loan to pay the existing debt.
The acquisition is in line with Vijaya Diagnostic’s objective to build a comprehensive diagnostic chain of network across different geographies and thereby increasing the market share and penetration.
This strategic acquisition will help the company to expand rapidly and with a faster growth rate in Pune, Maharashtra.
P H Diagnostic is spread across Pune with 3 Hub Centres equipped upto advanced radiology like MRI/CT, and 3 spoke centres equipped upto basic radiology services like ECG, X-Ray & Ultrasound, and few collection & franchise centres.