No plans to exit business, clarify Metropolis Healthcare promoters

Metropolis Healthcare is continuously exploring various strategic options and investment

Metropolis Healthcare clarified on the stock exchanges that its promoters have no intention to exit the business after rumours were rife that the Shah family is looking to sell its controlling stake to a strategic investor.

The national diagnostic chain said that it is continuously exploring various strategic options and investment opportunities. Thus, it keeps receiving inbound interest from financial institutions and companies for a potential minority stake purchase in Metropolis Healthcare.

"The company, its promoters and management team are committed to operating Metropolis Healthcare Ltd with the highest standards of medical science, stakeholder trust and customer engagement," the company said.

A couple of media reports have suggested that the company’s promoters have initiated a formal process to sell their stake and have roped in investment banking firm Barclays to handle the process.

“The company, its promoters and management team are committed to operating Metropolis Healthcare Limited with the highest standards of medical science, stakeholder trust and customer engagement. Promoters have no intention to exit the business and are in fact focused on strengthening the Metropolis Brand,” the company clarified on the BSE.

“Any step taken by the Promoters and Management Team will be in the view of long-term growth prospects of the company and in the best interest of all stakeholders,” it added.

Metropolis has a presence across 20 states in the country. Its shares tumbled 1.35 per cent in morning trade on Tuesday.