6 months ago
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Dr. Devi Shetty-promoted Narayana Hrudayalaya, which owns and operates Narayana Health network, connected Friday said it acquired U.K.-based Practice Plus Group Hospitals successful a £188.78 cardinal (₹2,200 crore) deal.
Under this all-cash transaction, Narayana Hrudayalaya U.K., a wholly owned subsidiary of Health City Cayman Islands, would acquire 100% of the equity shares of Practice Plus Group Hospitals, arsenic per a regulatory filing by Narayana Hrudayalaya successful India.
The acquisition signals Bengaluru-based Narayana Health’s introduction into the U.K. healthcare market, wherever Practice Plus Group operates 12 hospitals and surgical centres, specialising successful high-quality orthopaedics, ophthalmology and wide surgeries. The strategical acquisition extends Narayana Health’s planetary reach, placing the institution among the apical 3 healthcare providers successful India by revenue, the steadfast said successful a statement.
Practice Plus Group of hospitals, according to the commmuniquie, is the 5th largest backstage infirmary radical successful the U.K., performing astir 80,000 surgeries a year. Through this acquisition, Narayana Health has gained entree to the U.K. healthcare market, wherever request for surgeries, particularly successful the backstage sector, was projected to turn importantly successful the coming years, it said.
Dr Devi Prasad Shetty, Founder and Chairman of Narayana Health, said, “The acquisition of Practice Plus Group hospitals and surgical centres is an incredibly breathtaking measurement for Narayana Health,’’ adding that, “Like Narayana Health, Practice Plus Group recognised that the bulk of patients were struggling to entree healthcare, portion lone a number could spend costly backstage healthcare. We person some been moving to conscionable the demands of those successful between, and to connection a caller prime of much accessible backstage healthcare.’’
“Dr. Shetty and Narayana Health person an enviable estimation for precocious quality, businesslike healthcare with a quality interaction and I’m excited astir what Practice Plus Group’s hospitals and surgical centres tin execute with the committedness and expertise of Narayana Health down us,’’ said Mr. Jim Easton, Practice Plus Group Chief Executive.
Practice Plus Group, is 1 of the U.K.’s largest autarkic providers to the NHS with 3 divisions: Secondary Care, Integrated Urgent Care (NHS 111), and Health successful Justice (healthcare successful prisons and migration removal centers). It is owned by Bridgepoint, a starring backstage marketplace maturation capitalist with $86 cardinal successful assets nether management, arsenic per a BSE filing.
