Yatharth Hospitals, which operate hospitals in Delhi – NCR region, has announced acquisition of a super-speciality hospital in Delhi – previously known as MD City Hospital – for a cost of approximately Rs 160 crore.
MD City Hospital is located in Model Town area of the National Capital Territory (NCT).
The acquisition will add 300 beds to Yatharth’s existing tally.
In a stock market notification, the healthcare provider said, the acquisition was under the SARFAESI Act, “through e-auction”.
“The hospital has an expandable capacity of 300 plus beds and caters to a large catchment of residential and institutional client base. The hospital (acquisition) will give us a firm presence in the Delhi market along with strengthening Yatharth’s positioning as a leading super-speciality chain of Northern India,” the company said in a notification to the bourses.
According to Yatharth Tyagi, Director, Yatharth Hospitals, the acquisition will enhance its presence in North Indian region; and “enhance capacity to deliver quality healthcare”.
“This is in line with our commitment to growth through strategic expansion, both organic and inorganic modes, showcasingour expertise in developing new healthcare facilities and successfully turning around existing operations,” he said.
Earlier this year, in February, Yatharth Hospitals had announced acquisition of Faridabad-based Asian Fidelis Hospital at a cost of around ₹116 crore.