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Last Updated : Mar 01, 2017 06:26 PM IST | Source: PTI

No decision yet on buying Panacea Biotec: Narayana Hrudayalaya

Healthcare services provider Narayana Hrudayalaya Limited today clarified it has not taken any decision on buying Panacea Biotec's Gurgaon Hospital.

 
 
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Healthcare services provider Narayana Hrudayalaya Limited today clarified it has not taken any decision on buying Panacea Biotec's Gurgaon Hospital.


"We would like to clarify that at this stage, we have not taken a decision regarding this opportunity (buying of Panacea Biotec's Gurgaon Hospital) and not entered into any binding definitive agreement," Narayana Hrudayalaya Compliance Officer Puja Aggarwal said in a BSE filing here.


BSE had sought clarification via email today regarding clarification and confirmation after a channel reported that negotiations were taking place between Narayana Hyrudalaya and Panacea Biotec.

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Narayana Hrudalaya confirmed that the company has been in discussions with Panacea Biotec for Gurgaon Hospital since October 2015.


Giving the chronological order of the events, the company said in December 2016, it had signed a non-binding MoU with the counter party and in March this year, due diligence is under progress.


The BSE also asked whether the company is aware of any information that has not been announced to the stock exchange which could explain the aforesaid movement in trading.


In reply, the company said, "We or the company are not aware of any information that has not been disclosed to the stock exchange which could cause the aforesaid movement in trading." Founded in 2000 by the renowned cardiac surgeon Devi Prasad Shetty, Narayana Hrudayalaya currently has a network of 23 hospitals and seven heart centres across India with over 5,300 operational beds.



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First Published on Mar 1, 2017 06:14 pm
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