Apollo Hospitals acquires 51% stake in Assam Hospitals

Apollo Hospitals Enterprise Ltd (AHEL) said that it has completed the acquisition of the majority stake in Guwahati based Assam Hospitals Ltd.

The company announced the acquisition of 51 per cent stake in the company for Rs 57.25 crore,on June 2, 2015.

The cash consideration of Rs 57.25 crore will be utilised for refurbishing the hospital including addition of equipment and expansion.

Assam Hospitals, with 220 beds, has recorded a turnover of Rs 83.1 crore in the financial year ended March 31, 2015, as against Rs 70.2 crore during the year ended March 31, 2014, said the company.