Another acquisition in Bijnor UP
in continuation of our disclosure of outcome of Board Meeting dated March 12, 2024, we would like to
inform you that the Company has completed the acquisition of 100% equity stake in Healers Hospital
Private Limited (“HHPL”) by entering Share Purchase Agreement with existing shareholders
with an acquisition of 100% equity stake for a consideration of Rs 104 Cr (approx). This equity stake will be acquired within a period of one month, through secondary buy‐outs.
This investment is in continuation with Shalby’s strategy to consolidate asset base for its recent
acquisition of Sanar International Hospital (P K Healthcare Pvt Ltd.) at Gurugram.
Sanar International Hospital is currently operating under leased land held by Healers Hospital.
With this acquisition, Shalby has changed its business model from Leased model to owned
model for its recent acquisition of Sanar International Hospital in Jan 2024.
With this acquisition, Shalby will unlock the consolidated profitability of the group to the tune
of leased rentals expense, ensure the lifelong continuity of Sanar Hospital at owned land model
and also unlock the future value of asset being present at a prime location i.e. Golf Course Road,
Gurugram.
Bijnor is 1 Lakh population town, hospital is new, have good land and built up. But seems ramp up is very slow. But given the linkage with Sanar, we can consider it as single acquisition.
But why Shalby was the preferred choice for the selling management? It seems good asset even for big hospitals!
Disclosure: Invested
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