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Krishna Institute of Medical Sciences to acquire majority stake in Kingsway Hospitals

30 Aug 2022 Evaluate

Krishna Institute of Medical Sciences (KIMS) has entered into a definitive agreement to acquire a majority stake (51%) in SPANV Medisearch Lifesciences, Nagpur, which is running a Multi-Speciality Hospital in the name of ‘Kingsway Hospitals’, having over 300+ beds. Existing promoters and shareholders will continue to hold a balance 49% stake. Post-acquisition, the hospital will be renamed ‘KIMS Kingsway Hospitals’. The existing hospital premises has the scope to further scale up the bed capacity as and when required in the future with minimal Capex. The acquisition will be completed by way of infusion of funds into the company to the extent of Rs 80 crore, which will be used to repay the existing debts and partly to strengthen the Balance Sheet.

Krishna Institute of Medical Sciences offers a comprehensive range of healthcare services including oncology, cardiac sciences, neurosciences, gastric sciences, orthopaedics, renal sciences, organ transplantation, and mother & child care.

Krishna Inst.Medi Share Price

815.45 0.25 (0.03%)
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