Acquisitions28 Jun 2024, 06:29 pm
HealthCare Global Enterprises Ltd Acquires Shares of Vizag Hospital and Cancer Research Centre
AI Summary
HealthCare Global Enterprises Ltd has executed a Share Purchase Agreement (SPA) and a Shareholders’ Agreement (SHA) with Vizag Hospital and its respective shareholders. The Company aims to acquire 51% of the equity share capital in Vizag Hospital upfront, followed by an additional 34% in tranches, subject to board approval and fulfillment of terms and conditions. The SHA outlines the management and inter se rights between the Company and Continuing Shareholders, with provisions for acquiring the balance 15% of Vizag Hospital’s equity share capital. This acquisition will strengthen HealthCare Global’s market positioning and enhance operational and clinical synergies in a highly attractive micro-market.
Key Highlights
- HealthCare Global Enterprises Ltd enters into Share Purchase and Shareholders’ Agreements with Vizag Hospital and its shareholders.
- The Company agrees to acquire 51% of Vizag Hospital’s equity share capital upfront and an additional 34% in tranches.
- The Shareholders’ Agreement governs the management of Vizag Hospital and inter se rights between the Company and Continuing Shareholders.
- Provisions are in place for acquiring the balance 15% of Vizag Hospital’s equity share capital.
- The acquisition aims to strengthen HealthCare Global’s market positioning and enhance operational and clinical synergies.