Narayana Hrudayalaya has signed Business Transfer agreement with Shiva and Shiva Orthopaedic Hospital to acquire its Orthopedic and Trauma Hospital (“Sparsh Hosur Road” unit), situated at Narayana Health City campus, Bommasandra Industrial Area, Bengaluru as a going concern on slump sale basis as defined under the Income tax Act, 1961 for aggregate cash consideration of Rs 2 billion. The acquisition is subject to the Conditions precedent and Conditions subsequent as agreed in the Business Transfer agreement.
The acquisition will enable the company to foray into the trauma and orthopaedic specialty within the Narayana Health City campus housing company’s two flagship hospitals namely the cardiac sciences focused Narayana Institute of Cardiac Sciences and the multispecialty unit i.e. Mazumdar Shaw Medical Centre.
Narayana Hrudayalaya is one of the leading private healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities.
