Artemis Medicare Services has informed that the Board of Directors of the Company, at its meeting held today, June 11, 2025, approved the proposal to enter into a binding Memorandum of Understanding (‘MOU’) with Dr. Vidya Sagar Kaushalya Devi Memorial Health Centre (‘the Society’). As per the terms of MOU, upon completion of certain conditions prescribed, the Company and the Society will execute a Medical Services Agreement (‘MSA’) for granting the exclusive rights to the Company to operate, manage, and provide medical services at the Society’s hospital namely Vidyasagar Institute of Mental Health and Neuro & Allied Sciences (VIMHANS) located in Nehru Nagar, New Delhi. The Company is expected to incur an investment of ~ Rs. 550 - 600 crore for the project in next 2-3 years, to be funded by a combination of internal accruals and debt financing. The details as required under the SEBI Listing Regulations, are provided in 'Annexure A'. Further details of the aforesaid transaction will be disclosed on the execution of said MSA. The meeting of the Board of Directors commenced at 2:00 PM and concluded at 3:35 PM.
