Metropolis Healthcare Limited informed the exchanges Saturday that the completion of the acquisition of Dr. Ganesan’s Hitech Diagnostic Centre Private Limited (‘Hitech’) along with its subsidiary Centralab Healthcare Services Private Limited has got delayed due to Covid-19.
Metropolis Helathcare stock continued to rise post Q4 earnings last week. On Monday it hit a new 52-week high of Rs2,675.90 per piece early on. At around 12.46 PM, it was trading at Rs2557.55 per piece up Rs43.55 or 1.73% on the BSE.
“As mutually agreed between both the parties, the acquisition of Hitech along with its subsidiary Centralab would be closed and completed by the Company within 45 days from April 14, 2021. We wish to inform the Exchanges that the family of the selling shareholders i.e. promoters and shareholders of Hitech are in poor health due to Covid complications, since a month coupled with the lockdown imposed in Chennai, due to which the completion of the aforementioned acquisition has got delayed,” company said.
It further said, the company is making its best efforts to close the transaction.
Metropolis Healthcare Ltd is currently trading at Rs2,548 up by Rs34 or 1.35% from its previous closing of Rs2,514 on the BSE.