Home HEALTH Yatharth Hospital acquires Faridabad based hospital for Rs 116 crore

Yatharth Hospital acquires Faridabad based hospital for Rs 116 crore

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Hospital chain Yatharth Hospital and Trauma Care Services on Sunday announced the acquisition of 175-bedded Faridabad-based multi-specialty Asian Fidelis Hospital for Rs 116 crore in an all cash deal.

Yatharth Hospital said it has entered into a definitive agreement with Pristine Infracon and its shareholders to acquire the hospital by way of a 100% equity purchase from the existing shareholders.

The hospital located in RPS City in Sector 88, Greater Faridabad, was built 3 years ago with all the latest facilities on a 1.25-acre land and has an operational bed capacity of 175 beds which can be expandable up to 200 beds.

Yatharth in a statement said the acquired hospital is ready to be operationalized, has necessary approvals, and hence will add revenue to the company from day one.

The acquisition will help the company to enhance its presence in the Delhi NCR region. The transaction is expected to consummate by March-2024

Yatharth on Sunday reported a 39% on YoY basis jump in net profit to Rs. 29.5 crore, and operating revenue rose 31% YoY to Rs 167 crore in Q3FY24.

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