Vijaya Diagnostic Centre Ltd to acquire P H Diagnostic Centre Pvt Ltd

The Board of Directors of Vijaya Diagnostic Centre Limited ("the Company"), at their meeting held today, (i.e. December 19, 2023), have considered and approved the terms and conditions of the Share Purchase agreement ("SPA") between the Company, P H Diagnostic Centre Private Limited ("P H / Target") and its Promoters/Shareholders ("Sellers") for the acquisition of 100% stake in "P H". Post completion of the aforesaid acquisition, "P H" will become wholly-owned subsidiary ('WOS') of the Company.

Cost of acquisition of 100% shares from the existing shareholders of the Target Company is ₹134.65 Crores. Additionally, ₹12.85 Crores shall be infused into the Target Company by way of either Equity or Loan to pay the existing debt.

The acquisition is in line with the Company's objective to build a comprehensive diagnostic chain of network across different geographies and thereby increasing the market share and penetration.

This strategic acquisition will help the company to expand rapidly and with a faster growth rate in Pune, Maharashtra.

P H is spread across Pune with three (3) Hub Centres equipped upto advanced radiology like MRI/CT, and three (3) spoke centres equipped upto basic radiology services like ECG, X-Ray & Ultrasound, and few collection & franchise centres.

Shares of Vijaya Diagnostic Centre Ltd was last trading in BSE at Rs. 615.20 as compared to the previous close of Rs. 611.75. The total number of shares traded during the day was 12637 in over 934 trades.

The stock hit an intraday high of Rs. 640.00 and intraday low of 612.80. The net turnover during the day was Rs. 7925691.00.

Source : Equity Bulls

Keywords

VijayaDiagnosticCentre HealthcareServices INE043W01024 Acquisition PHDiagnosticCentre Pune