 "Yatharth Hospital acquires Faridabad-based Asian Fidelis for Rs 116 crore")
Yatharth Hospital and Trauma Care Services on Monday said it has acquired Faridabad-based Asian Fidelis Hospital for Rs 116 crore.
The healthcare provider, which currently operates three super specialty hospitals in NCR (national capital region), has inked a definitive agreement with Pristine Infracon Pvt Ltd and its shareholders for the buyout.
"This acquisition aligns with our company's strategy of expanding its footprint in the North India region," Yatharth Hospitals whole-time director Yatharth Tyagi said in a statement.
The healthcare provider currently operates hospitals at Noida, Greater Noida and Noida Extension.
Asian Fidelis Hospital comes with 175-bed capacity, which can be further expanded to 200 beds.
Yatharth Hospital also reported a 38 per cent increase in profit after tax (PAT) at Rs 29.5 crore in the third quarter ended December 2023.
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The company had reported a PAT of Rs 21.3 crore in the October-December quarter of last fiscal.
Revenue from operations rose to Rs 167 crore in the period under review from Rs 137 crore in the year-ago period.
"Achieving a debt-free status further enhances our financial flexibility, enabling us to allocate resources more efficiently and strategically to pursue growth opportunities," Tyagi said.