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NHL enters into definitive agreement to make HCCI a 100% step-down subsidiary

07 Nov 2017 Evaluate

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.

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