By: IPP Bureau
Last updated : November 04, 2024 12:17 pm
Yatharth Hospital and Trauma Care Services Ltd. has entered into a strategic collaboration agreement for the acquisition of a ~60% stake in a ~400 bedded-hospital in Faridabad, Haryana.
The hospital, built on approximately 2 acres of land, has completed its structure and is expected to be operational by start of the next fiscal year. This acquisition will enhance Yatharth Hospitals positioning as the leading healthcare provider, with the largest bed capacity in the Faridabad region.
Under the terms of the agreement, Yatharth Hospitals will acquire 60% stake in MGS Infotech Research & Solutions Private Limited for a cash consideration of Rs. 91.20 crore (for 60% stake), thereby making it a subsidiary of the company. The acquisition valued the hospital at an enterprise value of Rs. 152 crores.
The company plans to invest an additional Rs. 100 crore in the new facility to equip it with the latest advanced medical equipment. This will enable the hospital to provide high-end super specialty services, including a full suite of oncology treatments and robotic surgeries, ensuring the highest standards of patient care in the region.
Moreover, Yatharth Hospitals also announced successful bid of super specialty hospital located in Delhi, under the SARFAESI Act 2002 through e-auction. The said hospital is a well-established hospital based out of Model Town, New Delhi offering all the high-end super specialty services. With an expandable capacity of 300 plus beds, the said hospital caters to a large catchment of residential and institutional client base.
Commenting on the acquisitions, Yatharth Tyagi, Whole Time Director, Yatharth Hospitals remarked, “We are thrilled to announce our third strategic acquisition for this calendar year, with the addition of another 400-bedded hospital in Faridabad. Following our acquisition of the Greater Faridabad Hospital in March 2024, this acquisition now positions Yatharth Hospitals as the leading healthcare provider, with the largest bed capacity in the region. This expansion further strengthens our brand positioning and enhances our commitment to becoming the trusted healthcare destination for the residents of Faridabad and the surrounding region.
“This announcement also follows our recent successful bid for a 300-bed expandable hospital in the Delhi market, marking two positive developments within a week for our stakeholders. We are excited about the potential these facilities bring, significantly enhancing Yatharth Hospitals' position as a premier healthcare provider in North India, particularly in the Delhi-NCR region. These acquisitions will expand our capacity to deliver quality healthcare services, aligning with our commitment to growth through both organic and inorganic strategies. This demonstrates our expertise in developing new healthcare facilities and strengthening existing operations.”