Vijaya Diagnostic Centre Ltd said on Tuesday that it would entirely acquire Pune-based PH Diagnostic Centre Pvt Ltd for Rs 134.65 crore in cash.
The board of directors of Vijaya Diagnostic Centre met on Tuesday and considered and approved the terms and conditions of the share purchase agreement between the company, PH Diagnostic Centre (PH), and its promoters/shareholders for the acquisition of a 100% stake.
It said that the cost of acquiring 100% of PH’s shares from its current owners is Rs 134.65 crore.
It would also get Rs 12.85 crore in equity or loan to pay off current debt, according to the statement.
After the transaction is completed, PH will become a wholly-owned subsidiary of the corporation.
With 23 years of experience, PH is Pune’s biggest comprehensive diagnostic center. According to the filing, it has three ‘hub centers’ equipped with sophisticated radiology such as MRI/CT, three-spoke centers equipped with basic radiology services like as ECG, X-ray, and ultrasound, and a few collection and franchising centers.
“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,” the company stated.
It further said that the strategic purchase would assist the firm in swiftly expanding and growing at a quicker pace in Pune, Maharashtra.
Hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment are all part of the Indian healthcare business. The sector is expanding at a rapid rate as a result of improved coverage, services, and increased spending by both public and private actors.
The Ministry of Health and Family Welfare (MoHFW) is dedicated to accelerating vaccination coverage and consolidating health-system strengthening efforts while taking into account tribal groups’ socio-cultural practices and beliefs about child immunization in India.
The Universal Immunization Programme (UIP) is one of the most cost-effective public health interventions, reaching nearly 2.67 million newborns and 2.9 million pregnant women each year to reduce vaccine-preventable under-5 mortality rates by providing free vaccines against 12 vaccine-preventable diseases.
The rising incidence of lifestyle diseases, rising demand for affordable healthcare delivery systems as healthcare costs rise, technological advancements, the emergence of telemedicine, rapid health insurance penetration, and government initiatives such as e-health, along with tax benefits and incentives, are driving the Indian healthcare market.
, PH is Pune’s biggest comprehensive diagnostic center. According to the filing, it has three ‘hub centers’ equipped with sophisticated radiology such as MRI/CT, three-spoke centers equipped with basic radiology services like as ECG, X-ray, and ultrasound, and a few collection and franchising centers.
“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,” the company stated.
It further said that the strategic purchase would assist the firm in swiftly expanding and growing at a quicker pace in Pune, Maharashtra.
Hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment are all part of the Indian healthcare business. The sector is expanding at a rapid rate as a result of improved coverage, services, and increased spending by both public and private actors.
The Ministry of Health and Family Welfare (MoHFW) is dedicated to accelerating vaccination coverage and consolidating health-system strengthening efforts while taking into account tribal groups’ socio-cultural practices and beliefs about child immunization in India.
The Universal Immunization Programme (UIP) is one of the most cost-effective public health interventions, reaching nearly 2.67 million newborns and 2.9 million pregnant women each year to reduce vaccine-preventable under-5 mortality rates by providing free vaccines against 12 vaccine-preventable diseases.
The rising incidence of lifestyle diseases, rising demand for affordable healthcare delivery systems as healthcare costs rise, technological advancements, the emergence of telemedicine, rapid health insurance penetration, and government initiatives such as e-health, along with tax benefits and incentives, are driving the Indian healthcare market.
