Apollo Hospitals completes acquisition of 51% stake in Assam Hospitals

Apollo Hospitals Enterprise has completed the process of acquisition of a 51 percent stake in Assam Hospitals Ltd, which runs a 220 bed hospital facility in Guwahati. Apollo Hospitals in June last year announced the plan to acquire 51 percent stake in Assam Hospitals for a cash consideration not exceeding Rs 57.25 crores.
 
Established in 1997, Assam Hospitals recorded turnover of Rs 59.1 crore, Rs 70.2 crore and Rs 8.31 crore in 2012-13, 2013-14 and 2014-15 respectively.
 
“The objective of the acquisition is to strengthen Apollo Hospitals’ leadership position in the hospital space as well as enhance its presence in the North Eastern region where it already has a strong brand equity,” said Apollo Hospitals in a BSE filing today.