Narayana Hrudayalaya to acquire Bengaluru-based orthopedic and trauma hospital

Bulk Deals

Healthcare provider Narayana Hrudayalaya on Monday said it will acquire a Bengaluru-based orthopedic and trauma hospital for Rs 200 crore. The company has inked a business transfer agreement with Shiva and Shiva Orthopaedic Hospital to acquire its orthopedic and trauma hospital as a going concern on slump sale basis, including all assets, liabilities, employees, licenses and contracts, Narayana Hrudayalaya (NH) said in a regulatory filing.

Part of the Sparsh Group of hospitals, which has presence across Karnataka, the concerned unit with around 100 operational beds has an operational track record of over a decade offering orthopaedic services, it added. The unit generated operational revenues of over Rs 49 crore in the last fiscal.

"The acquisition will enable NH to foray into the trauma and orthopaedic specialty within the Narayana Health City campus housing our two flagship hospitals," the healthcare provider stated. On Monday, shares of the company ended 0.82 per cent down at Rs 706.70 apiece on the BSE.