Shalby to acquire majority stake in PK Healthcare, shares up nearly 3%

There will no governmental or regulatory approvals required for this acquisition.

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The share price of Shalby gained nearly 3 percent in early trade on January 19 as the company plans to acquire majority stake in Sanar International Hospitals, Gurugram (PK Healthcare Private Limited).

At 9:18am, Shalby was quoting Rs 312.75, up Rs 8.55, or 2.81 percent, on the BSE.

“The company has announced a strategic investment in PK Healthcare Pvt Ltd with an acquisition of 87.26 percent equity stake for a consideration of Rs 102 crore, approximately. This equity stake will be acquired within a period of one month, through primary infusion and secondary buy‐outs,” company said in its exchange notice.

The hospital is located at prime location of Golf Course Road, Gurugram. With a land parcel of 1.27 acres which has been taken on a long‐term lease. The current capacity of 130 beds facility can be expanded to the level of 180 beds with additional capex, it added.

There will no governmental or regulatory approvals required for this acquisition.

Sanar International hospitals has multiple tie ups with various healthcare facilities across the globe and caters to requirements of its patients through 7 representative offices in Middle east, Africa, CIS, SAARC and other international locations.

“P K Healthcare Pvt Ltd in Delhi/NCR, is an exciting and valuable opportunity to have a meaningful play in the International markets and the northern region. The hospital has built a reputation both in domestic and international markets in short period of time on the back of its world class facility, services and expertise of experienced doctors, and paramedical team,” said Vikram Shah, Chairman, Shalby.

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On January 11, the company informed that its division Shalby Academy signed a memorandum of understanding with Kaushalya, The Skill University of the Government of Gujarat, at Vibrant Gujarat Global Summit 2024.

Shalby Academy will specifically offer certificate, diploma, and post‐graduate diploma programs focusing on clinical paramedical and allied health science segments.