India’s well-known multi-specialty hospital chain Narayana Hrudayalaya (NH) is all set to buy NewRise Healthcare Pvt. Ltd, a subsidiary of Panacea Biotec Ltd, in a Rs 180-crore deal. This will enable NH to open its first hospital in Gurugram in the National Capital Region.
The company has “entered into a definitive agreement to acquire 100 per cent stake in NewRise Healthcare Private Limited from Panacea Biotec Limited to announce its first hospital in Gurugram,” Narayana Hrudayalaya said in a BSE filing on Friday.
“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,” said Dr Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya Limited.
“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,” he added.
Expected to be commissioned within the next nine months, the multi-speciality hospital is in final stages of completion.
“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,” the company said.