Max Healthcare Institute on Friday said it has inked a deal to acquire Eqova Healthcare, a company with long-term exclusive rights to aid development and provide medical services to an upcoming 400-bed hospital.
The hospital, which is owned by Nirogi Charitable and Medical Research Trust, will come up at Patparganj, Delhi.
"This new hospital will allow us to cater to the need for quality healthcare of the East Delhi community and fortify our network footprint in NCR in a synergistic manner.
"It will further enable us to bring high-end clinical programmes and technologies to the region and also help us to continue serving the indigent patient community," Max Healthcare Institute Chairman and Managing Director Abhay Soi said in a statement.
The healthcare provider said it aims to acquire the firm by way of upfront purchase of 26 per cent stake, with an Escrow mechanism set up for additional 34 per cent, under call/put options, to be exercised linked to achievement of certain milestones.
In addition, the parties have agreed to call/put options for the balance stake to be exercised on achievement of defined milestones.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU