Metropolis Healthcare says promoters have no intention to exit

The medical diagnostic chain on Monday clarified that its promoters have no intention to exit the business.

Metropolis Healthcare said it is continuously exploring various strategic options/investment opportunities. On account of which the company keeps receiving inbound interest from financial institutions and companies part of the healthcare eco-system for a potential minority stake purchase in MHL.

"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.

The media reports suggested that the company's promoters have initiated a formal process to sell part of their stake.

The company, however, clarified that promoters have no intention to exit the business and are in fact focused on strengthening the Metropolis Brand. 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, the company added.

"We are conscious of our disclosure requirement, and we do not have anything concrete at this point of time to notify to stock exchanges," the diagnostics firm noted.

Metropolis Healthcare is a leading diagnostics company in India with a widespread presence across 20 states in India.

On a consolidated basis, the diagnostic company's net profit declined 34.8% to Rs 39.99 crore on 4.9% rise in net sales to Rs 305.90 crore in Q4 March 2022 over Q4 March 2021.

Shares of Metropolis Healthcare tumbled 5.27% to Rs 1499.25 on Monday.

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