Share price of Narayana Hrudayalaya rose 2.5 percent on Wednesday post company entered into agreement with Imperial Hospital in Chittagong, Bangladesh.
NH Health Bangladesh, a step-down subsidiary of company, has entered into definitive agreements to partner with Imperial Hospital in Chittagong, Bangladesh to operate and manage their cardiac sciences department.
This 350 bedded unit of Imperial Hospital being set-up in Chittagong, Bangladesh on a revenue sharing basis.
Improving upon NH’s distinguished asset-right framework, this association would not entail any upfront capital outlay from NH while ensuring a reduced time-to-market, company said in release.
This Heart Centre (P&L responsibility lies with NH) is a strategic fit for NH and will act as an extension of the Eastern cluster and will benefit from operational synergies emerging out of the region, it added.
Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya said “We are very excited about venturing into Bangladesh healthcare market through our flagship specialty, cardiac sciences. We witness a strong patients’ footfall across the network from Bangladesh signifying a strong brand recall NH enjoys in the region."
Narayana Hrudayalaya ended at Rs 255.50, up Rs 6.35, or 2.55 percent on the BSE.
Posted by Rakesh Patil
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