Aster DM subsidiary to take full ownership of Sanghamitra Hospitals

Aster DM Healthcare Limited said that its subsidiary — Dr. Ramesh Cardiac and Multispeciality Hospital has agreed to take full ownership of Sanghamitra Hospitals Private Limited, in an all-cash deal worth INR 59.4 crores.

In this connection, Dr. Ramesh Cardiac and Multispeciality Hospital will acquire an additional stake of 49% in Sanghamitra Hospitals from key promoters and minority shareholders.

Sanghamitra Hospitals is a hospital and health care company located in Ongole, Andhra Pradesh. The turnover of Sanghamitra Hospitals in FY 2020-21 was INR 62.28 crores.

Aster DM Healthcare, which is a Kerala-based health care provider, said that the acquisition of the remaining stake will be executed in six instalments and is anticipated to be wrapped up by the end of March 2024.