Park Medi World Seals Rs 506.8 Million Deal For Febris Hospital Owner

Park Medi World Limited is stepping up its inorganic expansion with a fresh deal in the Delhi healthcare market. Blue Heavens Health Care, its wholly owned arm, is acquiring 100 percent of Durha Vitrak Private Limited, which owns and operates the 200-bed Febris Multispeciality Hospital at Narela, New Delhi. The consideration for the transaction is Rs 50.68 crore in cash, and the acquisition is being routed through a corporate insolvency resolution process approved by the National Company Law Tribunal, New Delhi, under the Insolvency and Bankruptcy Code, 2016.
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Key Deal Pointers

• Deal value pegged at Rs 506.8 million in cash for full ownership of Durha Vitrak Private Limited, the holding company of Febris Multispeciality Hospital.
• ​Febris is a 200-bed multi-speciality facility located in densely populated Narela, designed to deliver affordable, quality healthcare to low-income and nearby rural communities.
• ​Resolution plan for Durha Vitrak was cleared by NCLT, with Blue Heavens taking over the company through the insolvency framework, including settlement of creditor dues.
• ​The asset fits Park Medi World’s cluster-based growth model in North India, adding capacity and improving operating leverage ahead of its broader expansion and IPO-led growth plans.

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Sources: National Stock Exchange of India corporate filing by Park Medi World Limited