Narayana Hrudayalaya acquires NewRise Healthcare from Panacea Biotec

Buying a near-complete hospital with around 230 beds to help NH to strengthens its Northern cluster

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Narayana Hrudayalaya hospital

BS B2B Bureau Bengaluru

Last Updated : Apr 21 2017 | 4:38 PM IST

Dr Devi Prasad Shetty-promoted Narayana Hrudayalaya Limited (NH) has entered into a definitive agreement to acquire NewRise Healthcare Pvt Ltd from Panacea Biotec Limited for an enterprise value of Rs 180 crores. NewRise Healthcare is setting up a multi-speciality, 230-beds hospital at Gurugram, which is in final stages of completion and is expected to be commissioned within the next 9 months. This marks NH’s first hospital in Gurugram.

This transaction is intended to consolidate NH’s footprint in the Northern cluster and therefore serve the region’s fast expanding healthcare space. With a flexible business model, Narayana Hrudayalaya aims to fast-track its penetration

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