Aashka Hospitals Signs Strategic Partnership MoU

Aashka Hospitals Ltd has entered into a Memorandum of Understanding (MoU) with Rhythm Medical Stores, Rhythm Multispeciality Hospital, Cardioplus Health Care, and Rhythm Medical & Heart Hospital for a strategic partnership. The MoU aims to restructure the four entities into a single company, with Aashka Hospitals Limited holding a majority controlling stake of 70%. This strategic arrangement includes significant control rights for Aashka Hospitals, such as appointing directors and preferential rights in future share issuances. The transaction is not considered a related party transaction at this stage, but the newly formed entity will be a related party to Aashka Hospitals post-restructuring. The acquisition of shares will occur at a valuation determined on the transaction date.