Apollo Hospitals enters Haryana to set up healthcare facility
CHENNAI: Apollo Hospitals Enterprise Ltd (AHEL) has acquired a hospital asset in Gurugram, situated on hospital zoned land, with a potential of 650 beds over 7 lakh sq ft, from Nayati Healthcare and Research NCR Private Limited for a consideration of around Rs 450 cr.
The asset was originally sold by DLF Qutub Enclave Complex Medical Charitable Trust in 2011 to the seller.
The transaction has been formalised through AHEL’s 100% subsidiary, Apollo Hospitals North Ltd, and funded using available surplus funds with the group. All necessary approvals for the sale of the hospital asset were obtained from the lenders, shareholders and the courts to facilitate sale of the Gurugram hospital facility to Apollo Hospitals as per regulations.
Atlas Law Partners acted as legal advisors on the transaction for Apollo Hospitals North Ltd while Giriraj Subramanium, Advocate acted as counsel for M/s Nayati Healthcare and Research NCR Private Limited.
The acquisition marks the entry of the group in the state of Haryana. The hospital will establish the group’s presence in the millennium city of Gurugram.
Spread across 5.63 acres of land with 650 potential beds, Apollo Hospitals will offer its truly differentiated clinical programs in key Centres of Excellence, cutting-edge technology, sub-specialities and its inherent Clinical Excellence - not just for the residents of the city, but for all people in the National Capital Region and overseas as well.
Prathap C Reddy, Chairman, Apollo Hospitals Group said, “I am delighted that Apollo Hospitals has added to its presence in the North, a key area of focus for us. We are confident that our presence will further boost the local economy, generate highly skilled healthcare as well as allied jobs.”
The transaction has been formalised via AHEL’s 100% subsidiary, Apollo Hospitals North, and funded using available surplus funds with the group