India, Oct. 31 -- Narayana Hrudayalaya Ltd, which operates its healthcare network under the Narayana Health brand, has announced the acquisition of UK-based Practice Plus Group Hospitals for GBP 188.78 million (over Rs 2,200 crore), according to a regulatory filing made by the company.
The deal will be executed through a 100% equity acquisition of Practice Plus Group Hospitals Ltd via cash consideration. The shares will be acquired by Narayana Hrudayalaya UK Ltd, a wholly owned subsidiary of Health City Cayman Islands Ltd, which in turn is part of Narayana Hrudayalaya.
"The total consideration for the acquisition is GBP 188.78 million for a 100% stake, comprising 60,001 equity shares of face value GBP 0.02 each of Practice Plus Group Hosp...