In a significant move to bolster its healthcare network, Yatharth Hospital and Trauma Care Services recently unveiled its plan to acquire a 100% stake in the well-established Asian Fidelis Hospital located in Faridabad. The announcement, made on Sunday, revealed that the enterprise value of this strategic acquisition amounts to Rs 116 crore.
This acquisition is the result of a definitive agreement between Yatharth Hospital, Pristine Infracon, and its shareholders, paving the way for a complete equity purchase from the existing stakeholders, as outlined in the company statement. Following the acquisition, the bed capacity of the Fidelis Hospital is set to be expanded, aiming to reach a range of 200 to 220 beds.
Yatharth Tyagi, the Director of Yatharth Group of Hospitals, shared insights into the expansion plans for the newly acquired hospital. He mentioned that approximately Rs 30 crore will be invested in capital expenditure to bring about necessary infrastructure changes, with a focus on adding new super specialties such as neurosciences, cardiology, cardiac surgery, oncology, and gastroenterology.
This acquisition represents Yatharth’s inaugural brownfield expansion in the fiscal year 2024 and marks its entry into Haryana. The healthcare provider had previously acquired a 305-bed hospital in Orchha, Madhya Pradesh, in 2022. With this recent addition, Yatharth’s total bed count in North India reaches an impressive 1,605 beds.
Yatharth Tyagi emphasized that the acquisition aligns seamlessly with the company’s strategy to fortify its presence in North India, further enhancing Yatharth’s positioning in the competitive Delhi-NCR market. The newly acquired hospital is poised for immediate operationalization post-acquisition, boasting all necessary approvals, accreditations, and empanelments with major insurance providers and Third Party Administrators (TPAs).
The entire transaction for acquiring Fidelis Hospital is anticipated to conclude by March 2024, marking another milestone in Yatharth Hospital’s commitment to delivering quality healthcare services and expanding its footprint in the dynamic healthcare landscape.
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