Krishna Institute of Medical Sciences increases stake in Sunshine Hospital
Krishna Institute of Medical Sciences Limited (KIMS) has increased its equity holding in Sunshine Hospital, a subsidiary, from 56.61% to 59.10%, an increase of 2.49% through a secondary purchase. The shares were acquired at Rs. 340 and Rs. 400 per equity share, based on a valuation report, making the total cost of the acquisition Rs. 35,23,80,780.
Sunshine Hospital, also known as Sarvejana Healthcare Private Limited, has a total paid-up Equity Share Capital of ₹36,51,60,900 (Rupees Thirty-Six Crore Fifty-One Lakh Sixty Thousand Nine Hundred Only) as of the current date. The Total Income of Sunshine Hospital for the Financial Year ended March 31, 2023, stood at ₹2883.19 Million on a standalone basis.
The increased investment by KIMS, the Holding Company of Sunshine Hospital, is being viewed as a strategic move to strengthen its position in the healthcare sector. KIMS’s interest in Sunshine Hospital aligns with its focus on innovation and excellence within medical services.
Krishna Institute of Medical Sciences boosts stake in Sunshine Hospital by 2.49%. Photo courtesy of LoJoLoJo/Wikimedia Commons.
Founded in May 2009 by Dr A.V. Gurava Reddy, a joint Replacement Surgeon of repute, Sunshine Hospital has quickly risen to prominence. Under Dr A.V. Gurava Reddy’s leadership, the hospital has become one of the largest Joint Replacement Centres in India within a very short period.
This acquisition represents a significant step for both KIMS and Sunshine Hospital, solidifying their partnership and shared vision for healthcare innovation and service. The enhanced stake in Sunshine Hospital underscores KIMS’s commitment to investing in high-quality healthcare facilities and demonstrates confidence in Sunshine Hospital’s growth potential and leadership in the field of joint replacement surgeries.