Narayana Hrudayalaya rose 3.28% to Rs 729.90 after the company signed a business transfer agreement with Shiva and Shiva Orthopaedic Hospital to acquire its Orthopedic And Trauma Hospital in Bengaluru on slump sale basis for Rs 200 crore.
The Orthopedic and Trauma Hospital is located at #29/P2, Narayana Health City campus at Bommasandra Industrial Area, Hosur Road, Bangalore, Karnataka.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. The unit has generated operational revenues of over Rs 49 crore in FY22 and over Rs 18 crore for the 4 months period ending 31 July 2022 respectively as per the unaudited provisional financial statements.
Narayana Hrudayalaya acquired all assets, liabilities, employees, licenses, authorizations, contracts, goodwill belong to the said unit from Shiva and Shiva Orthopaedic Hospital as a going concern on slump sale basis.
The acquisition will enable Narayana Hrudayalaya to foray into the trauma and orthopaedic specialty within the Narayana Health City campus. It will add orthopaedic specialty and will supplement the other specialties of the company's Health City operations, thereby increasing the breadth of multispecialty program at its flagship campus.
The acquisition is expected to be completed on or before 31 December 2022.
Narayana Hrudayalaya is a healthcare service provider, operating a chain of multispecialty, tertiary, and primary healthcare facilities.
Narayana Hrudayalaya recorded 45.1% growth in consolidated net profit to Rs 110.6 crore on a 20.2% increase in total operating income to Rs 1,033.4 crore in Q1 FY23 over Q1 FY22.
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