Narayana Hrudayalaya (NHL) along with Health City Cayman Islands (HCCI), Narayana Cayman Holdings (NCHL), Ascension Health Alliance, USA (AHA) and Ascension Health Ventures LLC, USA (AHV), have entered into a definitive agreement, whereby HCCI will buyback 71.4% stake for a consideration of $32.26 Million, from AHV. Consequent to this buyback, HCCI will become a 100% step-down subsidiary of NHL.
HCCI is a company registered in the Cayman Islands and operating a Hospital in the Cayman Islands. NHL holds 28.6% equity shares in HCCI through its wholly owned subsidiary NCHL, a company registered in the Cayman Islands. The balance 71.4% equity in HCCI is held by AHV, an affiliate of AHA.
Narayana Hrudayalaya is one of the leading private healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities.