M&A

M&A

Narayana Hrudayalaya acquires Practice Plus Group Hospitals for Euro 188.78-M

BSE Announcement   Press Release   Business Line  

Bengaluru-based Narayana Hrudayalaya Ltd , which operates its healthcare chain under Narayana Health, announced its acquisition of UK-based Practice Plus Group Hospitals for Euro188.78 million (over INR 2,200 crore) through issue of 60,001 equity shares at Euro 0.02 per share. The acquisition is structured as a cash consideration for 100% equity shares of Practice Plus Group Hospitals Ltd. These shares will be acquired by Narayana Hrudayalaya UK Ltd, a wholly-owned subsidiary of Health City Cayman Islands Ltd.Practice Plus Group Hospitals operates seven hospitals, three surgical centers, two urgent treatment centers, three musculoskeletal/diagnostic centers, and one ophthalmology center, collectively offering a 330-bed capacity. The acquisition signifies Narayana Health's entry into the UK healthcare market, where Practice Plus Group specializes in providing high-quality orthopaedics, ophthalmology, and general surgery across its facilities.

Between Feb-08 and Dec-14, Narayana Health had attracted about USD 148 M from JP Morgan, PineBridge, British International Investment.For FY24, Narayana Health had reported about INR 5,018.25Cr in Operating Income and about INR Cr 789.62 in PAT