Yatharth Hospital acquires Faridabad-based Asian Fidelis for Rs 116 crore | Company News| Trending Viral hub

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Yatharth Hospital and Trauma Care Services on Monday said it has acquired Faridabad-based Asian Fidelis Hospital for Rs 116 crore.

The healthcare provider, which currently operates three super specialty hospitals in NCR (National Capital Region), has signed a definitive agreement with Pristine Infracon Pvt Ltd and its shareholders for the purchase.

“This acquisition aligns with our company’s strategy to expand its presence in the northern Indian region,” Yatharth Hospitals Whole Time Director Yatharth Tyagi said in a statement.

The healthcare provider currently operates hospitals in Noida, Greater Noida and Noida Extension.

Asian Fidelis Hospital has a capacity of 175 beds, which can be expanded to 200 beds.

Yatharth Hospital also reported a 38 per cent rise in profit after tax (PAT) to Rs 29.5 crore in the third quarter ended December 2023.

The company had reported a PAT of Rs 21.3 crore in the October-December quarter of the last fiscal year.

Revenue from operations rose to Rs 167 crore in the review period from Rs 137 crore in the year-ago period.

“Achieving debt-free status further enhances our financial flexibility, allowing us to allocate resources more efficiently and strategically to pursue growth opportunities,” Tyagi said.

(Only the title and image of this report may have been modified by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First published: February 12, 2024 | 12:25 p.m. IS

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