Yatharth Hospital acquires 60% stake in MGS Infotech for ₹91.2 crore
“We wish to inform that the board of directors (Board) of the company, at their meeting held today i.e. October 30, 2024, have approved to enter into an agreement (Transaction Term Sheet) with MGS Infotech Research and Solutions Private Limited (Target Company) and its shareholders to
acquire 60% equity shareholding in the target company at an enterprise value of ₹152 crore,” according to a stock exchange filing.
MGS Infotech owns a 400-bed hospital project located in Faridabad, Haryana, which is expected to become operational within 6 to 10 months of the acquisition.
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The strategic purchase aims to expand Yatharth Hospital’s presence in the Delhi-NCR region, further strengthening its regional footprint. The hospital, built on a 2-acre plot, is designed with advanced medical equipment to offer super-speciality services to a large population base.
MGS Infotech, incorporated in September 2004, has an authorised share capital of ₹80 crore and a paid-up capital of ₹78.47 crore. The acquisition is anticipated to close by December 2024 and does not require additional regulatory approvals.
Shares of Yatharth Hospital and Trauma Care Services ended at ₹669.65, up by ₹11.30, or 1.72% on the BSE.
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