KIMS Hospitals to acquire 51.07% stake in Sunshine Hospitals

KIMS Hospitals has executed definitive agreements to acquire a majority stake (51.07%), (as a combination of 18.52% stake through equity shares and the remainder through partly paid-up equity shares, which shall be fully paid up by April 2022 based on an agreed schedule) in M/s sarvejana Healthcare private Limited (herein referred to as "Sunshine Hospitals"), which own and operates hospitals in and around Hyderabad, Telangana under the brand 'sunshine Hospitals', at an Enterprise Value of - INR 7,300 mn, subject to working capital adjustmenls on the closing date.

For Financial Year ended March'21 Sunshine Hospitals reported INR 4,118 mn in revenue and INR 752 mn in operating EBITDA.

The acquisition deal is expected to be EPS accretive and provides an enhanced platform for KIMS to further strengthen its presence in the key home market of Hyderabad and Secunderabad.

Source : Equity Bulls

Keywords

KIMSHospitals acquisition SunshineHospitals