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Narayana Hrudayalaya to buy Panacea arm for Rs. 180 crore

Narayana Hrudayalaya to buy Panacea arm for Rs. 180 crore
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Narayana Hrudayalaya has entered into an agreement with Panacea Biotec to fully acquire its subsidiary NewRise Healthcare for an enterprise value of Rs 180 crore.

The company has "entered into a definitive agreement to acquire 100 per cent stake in NewRise Healthcare Pvt Ltd from Panacea Biotec Ltd to announce its first hospital in Gurugram", Narayana Hrudayalaya said in a BSE filing on Friday.

NewRise Healthcare has set up a multi-speciality hospital in Gurugram which is in final stages of completion and is expected to be commissioned within the next 9 months.

This transaction is intended to consolidate Narayana Hrudayalaya's footprint in the northern cluster.
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