Acquisitions9 Nov 2024, 09:57 pm
Krishna Institute of Medical Sciences Ltd Enters Operations and Management Agreement with Insignia Healthcare
AI Summary
Krishna Institute of Medical Sciences Ltd (KIMS) has entered into an Operations and Management Agreement with Insignia Healthcare Private Limited for an initial term of 15 years, with an option to extend for a further 10 years. The agreement is for a newly constructed super specialty hospital with around 150 bed capacity at Guntur-Andhra Pradesh. Insignia Healthcare Private Limited will pay KIMS a revenue fee of 5% of the total Net Revenue. KIMS will have the First Right of Refusal (ROFR) in respect of any transfer of equity shares by the existing shareholders of KIMS-SIKHARA, and further KIMS shall have an option to acquire upto 100% of the equity shares of KIMS-SIKHARA.
Key Highlights
- KIMS entered into an Operations and Management Agreement with Insignia Healthcare Private Limited for a 15-year term with an option to extend for a further 10 years.
- The agreement is for a newly constructed super specialty hospital with around 150 bed capacity at Guntur-Andhra Pradesh.
- Insignia Healthcare Private Limited will pay KIMS a revenue fee of 5% of the total Net Revenue.
- KIMS will have the First Right of Refusal (ROFR) in respect of any transfer of equity shares by the existing shareholders of KIMS-SIKHARA.
- KIMS shall have an option to acquire upto 100% of the equity shares of KIMS-SIKHARA.