Rainbow Children's Medicare to acquire 76 pc stake in Pratiksha Hospital
The Hyderabad-based healthcare firm has inked a definitive agreement with promoters of Pratiksha Hospital for the stake buy.
The transaction values Pratiksha Hospital at an enterprise valuation of Rs 171 crore, fully funded via the company's cash reserves and internal accruals, Rainbow Children's Medicare Ltd (RCML) said in a statement.
RCML will acquire a 76 per cent controlling stake, while promoter Dr Sharma & his family will retain the balance share in Pratiksha Hospital, it added.
Founded in 1995 by Pramod Kumar Sharma, a pioneer of IVF, minimal invasive gynaecology surgery in Northeast India, Pratiksha Hospital commenced operations in Guwahati and subsequently delivered its first IVF baby in February 1997.
"This partnership empowers us to reach a wider community and deliver top-tier pediatric and maternal care to the families of Assam and Northeast India," RCML Chairman & MD Ramesh Kancharla said.
Shares of the company were trading 2.41 per cent up at Rs 1,540 apiece on BSE.
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