Healthcare Global on June 28 said that it has enters into Share Purchase Agreement (SPA) with Vizag Hospital for an upfront acquisition of 51 percent stake in the company for Rs 207.8 crore. It will also acquire balance 49 percent of equity share capital in tranches.
In a regulatory filing, Healthcare Global said within 18 months of first closing date, the company shall acquire a further 34 percent stake in Vizag Hospital. Cost of acquisition of an additional 34 percent stake shall be Rs 155 crore.
This acquisition would help the company to secure leadership in a highly attractive micro-market, enhance operational and clinical synergies, unlock capacities, and strengthen our market positioning, Healthcare Global said in a statement.
Post the acquisition announcement, shares of Healthcare Global were trading nearly 3 percent higher at Rs 382 apiece on BSE around 13:20 hours IST.
Vizag Hospital, owns and operates a comprehensive cancer care hospital in the city of Vishakhapatnam, Andhra Pradesh having 196 operational beds facility, led by Dr. Murali Krishna Voonna, a renowned onco-surgeon.
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