Apollo Hospitals to buy 64% stake in Excelcare Hospital, Guwahati
Apollo Hospitals Enterprise Ltd has agreed to acquire a 64% stake in Asclepius Hospitals and Healthcare, which operates the Excelcare Hospital, a 180-bed multi-specialty hospital in Guwahati.
The enterprise value of Asclepius Hospitals and Healthcare as per the terms of the deal is INR 210 crores.
Apollo Hospitals Enterprise will execute the deal via its subsidiary — Assam Hospitals Ltd, which runs a 219-bed hospital in Guwahati.
The Indian hospital chain said that the transaction will further consolidate the leadership position of Apollo Hospitals Group in the hospital space.
Apollo Hospitals to acquire 64% stake in Excelcare Hospital, Guwahati. Photo courtesy of Excelcare Hospitals.
Commissioned in 2017, Excelcare Hospital has been built on 4.5 acres of land having a built-up area of two lakh square feet. The hospital can be potentially expanded to add another 100-150 beds, said Apollo Hospitals Enterprise.
Suneeta Reddy — Managing Director of Apollo Hospitals Enterprise said: “Apollo Hospitals has always been the trusted brand for people in the NorthEast. In order to grow our footprint, and serve more consumers with the highest quality of healthcare delivery, we have now acquired a majority stake in Excelcare Hospital, whose founders share our commitment to clinical quality and outcomes.
“Together, we believe we can bring differentiated care to the people of Guwahati and consolidate our position in the Region.