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Mergers & Acquisitions | 18 August 2014

Apollo May Buy West Bank Hospital

by Sejal Mourya
Apollo May Buy West Bank Hospital
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In a bid to expand its presence in the country, Apollo Gleneagles Hospitals Limited, an equal JV between Apollo Hospitals Enterprise Limited and the Parkway Group, is evaluating options to acquire Kolkata-based West Bank Hospital.

West Bank Hospital, part of the Meridian Medical Research & Hospital Ltd, is a 250 bed hospital providing services including gynaecology, ophthalmology, oncology, surgery, paediatrics, cardiology, psychiatry, dermatology, medicine, neurology, chest medicine, gastroenterology and orthopedics.

Apollo Gleneagles Hospitals, Kolkata, a 510-bedded multispecialty tertiary care hospital is a joint venture of Apollo Group of Hospitals, India and Parkway Health of Singapore.

Apollo had recently announced a 200 bed Orthopedics, Trauma and Cardiology focused unit in Nellore. It had also opened 150 bed unit specializing in Neurology, Trauma, Cardio Thoracic INR 870 Mn for its upcoming Navi Mumbai facility which includes investment to add cancer care facility to the project under development.

Recently, Sri Kavery Medical Care (Trichy) Private Limited was planning to raise INR 1,750-2,000 Mn in growth capital to provide existing investor India Venture Advisors Pvt. Ltd (IVA) an exit from its five year old investment and fund its growth plans.

Also, Emami Group was planning to buyout SK Todi led Shrachi group’s 32% stake in AMRI Hospitals Limited.

-BS

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