Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
26 April, 2017 21:04 IST
Narayana Hrudayalaya to acquire 100% stake in NewRise Healthcare
Source: IRIS | 21 Apr, 2017, 03.13PM
Comments  |  Post Comment

Narayana Hrudayalaya (NH), a leading healthcare services provider in India, has entered into a definitive agreement to acquire 100% stake in NewRise Healthcare Private from Panacea Biotec to announce its first hospital in Gurugram.

This transaction is intended to consolidate NH's footprint in the Northern cluster and therefore serve the region's fast expanding healthcare space. With a flexible business model, NH aims to fast-track its penetration and emerge as a prominent healthcare services provider in the growing NCR market.

This multi-speciality hospital is in final stages of completion and is expected to be commissioned within the next 9 months. Located in South-Western part of NCR, it complements group's East Delhi based Dharamshila Narayana Superspeciality Hospital which is presently an oncology focused unit and will be upgraded to a multispeciality tertiary care unit. This will help create a strong regional network and drive operational synergies.

These recently consummated transactions by NH also emphasize the group's intention to create a meaningful Pan-India presence. These new initiatives will enable NH to replicate its established business model to newer regions while providing quality and affordable healthcare services.

Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya, said ''This development is a step forward in the direction towards reinforcing the newly formed Northern cluster. It also echoes our group's commitment towards developing this region as vibrant as the existing Karnataka and Eastern clusters. We believe our recent ventures in NCR will help us target this key geography more efficiently while accelerating our trajectory to become a true Pan-India healthcare service provider.''

Shares of the company declined Rs 1.55, or 0.11%, to trade at Rs 316.80. The total volume of shares traded was 766 at the BSE (2.59 p.m., Friday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Sector
Suzlon achieves generation yield of 7.66 million Kwh over last 12 months in Kutch - 26-Apr-2017 14:36
Crude oil price of Indian basket falls 1% - 26-Apr-2017 13:02
LIC Housing Finance quarterly profit rises 18% - 26-Apr-2017 11:55
Nucleus Software surges as board approves share buyback - 26-Apr-2017 11:47
Adani Ports form JV with France's CMA CGM - 26-Apr-2017 11:28
Kolte Patil signs redevelopment project in Mumbai - 26-Apr-2017 11:21
NIIT Tech enters into partnership with SCCC - 26-Apr-2017 11:17
Persistent Systems quarterly earnings drop 0.41% - 26-Apr-2017 10:51
M&M's arm acquires 100% stake in MANA - 26-Apr-2017 10:34
Dilip Buildcon incorporates 3 SPV Cos for projects worth Rs 32.69 bn - 26-Apr-2017 10:05
Persistent Systems enters into strategic collaboration with Partners HealthCare - 26-Apr-2017 09:50
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer