Shalby to acquire 100% stake in Healers Hospital for ₹104 crore

Multi-speciality hospital chain Shalby Ltd on Tuesday (March 12) said it will acquire a 100% stake in Healers Hospital Private Ltd (HHPL) for ₹104 crore.

The decision was made during a board meeting held on March 12, 2024, where the proposal was considered and approved. The acquisition will be carried out through a secondary acquisition from the existing shareholders of HHPL.

“(It was decided) to acquire 100% stake in Healers Hospital Private Limited (“HHPL”), by way of secondary acquisition from its existing shareholders for an amount aggregating to appx. ₹104 crore based on the Due Diligence Report and Valuation Report by Registered Valuer and as per the conditions set out in the Term Sheet signed between the parties,” the company said in a stock exchange filing.

The transaction is expected to be completed within 30 days post-approval. After the acquisition, HHPL will become a wholly-owned subsidiary of Shalby Ltd, marking a significant milestone in the company’s business growth and expansion plans.

HHPL recorded a total revenue of ₹6.73 crore in FY 2022-23, ₹1.12 crore in FY 2021-22, and nil revenue in FY 2020-21.

Shares of Shalby Ltd ended at ₹229.05, down by ₹9.90, or 4.14% on the BSE. CNBCTV18