Alchemist board approves amalgamation of Kaiser Hospital

Alchemist Ltd has announced that the Board of Directors of the Company at its meeting held on August 31, 2006 has considered and approved a proposal for the amalgamation of Kaiser Hospital Ltd with the Company.

Kaiser Hospital Ltd is a Multi Specialty Hospital with State of the Art Medical Technology and related infrastructure with 200 bed capacity. The Hospital is located at Panchkula, a satellite city of Chandigarh and will meet the requirement of patients from Punjab, Haryana, Chandigarh and Himachal Pradesh.

The proposed scheme of Amalgamation is subject to the approvals of the Board & shareholders of Kaiser Hospital Ltd, shareholders of the Company, the Stock Exchange(s), the High Court of Punjab and Haryana and all other requisite permissions, sanctions and approvals.

Source : Equity Bulls

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