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Apollo Hospitals rises on executing agreements to acquire 60% equity stake in KFHSL
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Apollo Hospitals Enterprise is currently trading at Rs. 4412.40, up by 10.25 points or 0.23% from its previous closing of Rs. 4402.15 on the BSE.
The scrip opened at Rs. 4408.95 and has touched a high and low of Rs. 4450.05 and Rs. 4390.50 respectively. So far 1804 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 5930.70 on 26-Nov-2021 and a 52 week low of Rs. 3365.90 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 4488.00 and Rs. 4275.05 respectively. The current market cap of the company is Rs. 63437.07 crore.
The promoters holding in the company stood at 29.33%, while Institutions and Non-Institutions held 64.35% and 6.32% respectively.
Apollo Hospitals Enterprise has executed definitive agreements to acquire 60% equity stake in Kerala First Health Services (KFHSL), which offers quality systems driven Ayurveda medical care services under the ‘AyurVAID Hospitals’ brand through a combination of primary and secondary equity investment with the overall transaction consideration being Rs 26.40 crore. The primary investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives.
Consequent to this acquisition, KFHSL would become a subsidiary of the Company. Apollo Hospitals’ acquisition of stake in AyurVAID is aimed at delivering a unique Co-Managed Care Model, offering appropriate integration between modern medicine and Ayurveda. Treatment stages range from Preventive Care, Acute-on-Chronic Care, Post-Emergency Care, and Promotive Care. The partnership will also strive to build path breaking research in Integrative Medicine through clear, differentiated research methodology to establish credible evidence for Ayurveda’s safety and efficacy.
Apollo Hospitals Enterprise owns and operates chain of multi-specialty hospitals. It offers the services in the area of cardiology, cardiothoracic, orthopedics and joint replacement, spine surgery, oncology, etc.
