Healthcare services provider Yatharth Hospital and Trauma Care Services on Sunday announced the acquisition of a 100 per cent stake in the 175-bed Faridabad-based Asian Fidelis Hospital for an enterprise value of Rs 116 crore.
This comes after Yatharth Hospital announced entering a definitive agreement with Pristine Infracon and its shareholders to acquire the hospital by way of a 100 per cent equity purchase from the existing shareholders, according to the company statement.
Yatharth Hospital added that the bed capacity will be expanded to 200 to 220 beds post acquisition.
Speaking on the plans for capacity expansion in the newly acquired hospital, Yatharth Tyagi, director, Yatharth Group of Hospitals, said that the company will be bringing certain infrastructure changes required for the additional specialities, for which around Rs 30 crore will be spent as capital expenditure on buying medical equipment.
“We are looking to add new super specialities in the hospital, including neurosciences, cardiology, cardiac surgery, oncology, and gastroenterology,” he added.
This acquisition marks Yatharth’s first brownfield expansion in FY 2024, and its entry into Haryana. The company had also acquired a 305-bed hospital in Orchha, Madhya Pradesh, in 2022.
The recent acquisition brings the healthcare company’s total bed count to 1,605 beds in North India.
Commenting on the acquisition, Tyagi said that the acquisition fits well with the company’s stated approach of expanding its presence in the north India region and further enhances Yatharth’s positioning in the Delhi-NCR market.
“The newly acquired hospital is ready to be operationalised immediately upon acquisition, as necessary approvals, accreditations, and empanelment with all major insurance and Third Party Administrators (TPAs) are already in place,” the company said in a regulatory filing on the National Stock Exchange (NSE).
The transaction for acquiring the hospital is expected to consummate by March 2024.
First Published: Feb 11 2024 | 3:48 PM IST
