The transaction will be funded through a mix of debt and internal accruals
Fortis Healthcare has inked a pact with the VPS Group to acquire Manesar-based Medeor Hospital for Rs 225 crore.
The healthcare major said it has signed definitive agreements to acquire Medeor Hospital for an overall purchase consideration of Rs 225 crore.
The deal entails the purchase of land, building and movable assets of Medeor and is expected to close by end of July 2023, subject to the completion of certain conditions precedent as stipulated in the definitive agreements.
The transaction will be funded through a mix of debt and internal accruals, Fortis Healthcare said in a statement.
The company said the acquisition fits well with its strategic approach of expanding its presence in focus geographic clusters, including Delhi-NCR.
The acquisition will enable the hospital chain to deliver services to patients in the upcoming areas of New Gurgaon, Dwarka Expressway and IMT Manesar, it added.
The hospital can be easily accessed from these areas and can additionally benefit patients from across Rewari, Mahendragarh, Bhiwadi, Pataudi, Farukh Nagar and other areas in the vicinity.
