Yatharth Hospital Acquires 60% of MGS Infotech to Expand in Delhi-NCR

31 Oct 2024 , 12:35 AM

Yatharth Hospital announced its board approval to acquire a 60% equity stake in MGS Infotech Research and Solutions Pvt Ltd for ₹91.2 Crore, valuing the deal at ₹152 Crore. The acquisition will proceed under a Transaction Term Sheet agreement, as approved by the Yatharth Hospital board on October 30, 2024.

MGS Infotech is developing a 400-bed hospital in Faridabad, Haryana, which is expected to become fully operational within 6 to 10 months post-acquisition.

This strategic acquisition is intended to strengthen Yatharth Hospital’s presence in the Delhi-NCR region and expand its reach to serve a larger population. The new hospital, situated on a 2-acre property, will be equipped with advanced medical facilities to offer super-specialty healthcare services.

Established in September 2004, MGS Infotech has a paid-up capital of ₹78.47 Crore and an authorized share capital of ₹80 Crore. The acquisition is expected to finalize by December 2024 and does not require any additional regulatory clearances.