New Delhi, Sept. 15 -- Yatharth Hospital and Trauma Care Services Ltd, a super-speciality hospital group, has agreed to acquire healthcare provider Shantived Hospital, as the Mumbai-listed company expands its operations in North India.
Yatharth Hospital has struck a deal to fully acquire the Agra, Uttar Pradesh-based hospital for an enterprise value of Rs 260 crore ($29.5 million) in an all-cash deal, according to a stock exchange disclosure.
The company, which has a presence across Uttar Pradesh, Haryana and Delhi-NCR, said the deal will strengthen its position in the country's most populous state.
"This strategic acquisition strengthens Yatharth Hospital's footprint in Uttar Pradesh and enhances our position as an integrated healthcare leader in North India," said Yatharth Tyagi, director at Yatharth Hospitals, in a statement.
Shantived Hospital, operated by Shantived Institute of Medical Sciences, was set up in 2021. The hospital provides multi-speciality care services to patients from Agra and the surrounding regions. The hospital is built across about 1,65,000 sq. ft land and currently operates about 150 beds, with an expandable capacity of 250 beds.
For FY25, Shantived generated revenue of around Rs 50 crore. It currently operates at an occupancy of about 35%. The facility is expected to contribute to Yatharth's topline and bottomline from the first day following the integration.
Yatharth Hospital operates a network of several super-speciality hospitals across North India, in cities such as Noida and Greater Noida in Uttar Pradesh, Faridabad in Haryana, Delhi, and in Madhya Pradesh's Jhansi. The Agra hospital would be the eighth hospital in Yatharth's network, taking its total capacity to over 2,500 beds.
Published by HT Digital Content Services with permission from VC Circle.