New Delhi, Oct 31 Narayana Health’s acquisition of a UK hospital is a proud moment for India and also reflects Bharat's growing capabilities, said Union Commerce Minister Piyush Goyal on Friday.
The Bengaluru-based Narayana Health has acquired UK-based Practice Plus Group Hospitals, which operates 12 hospitals and surgical centres, specialising in high-quality orthopaedics, ophthalmology, and general surgery.
“Proud moment for India as our healthcare delivery system continues to strengthen its global presence. With Narayana Health, Bengaluru-based healthcare providers, acquiring the UK-based Practice Plus Group Hospitals, the expansion underscores Bharat's growing capabilities and excellence in providing world-class medical care,” said Goyal in a post on social media platform X.
Lauding the Group’s Chairman, Dr. Devi Prasad Shetty, for the milestone, Goyal said the achievement "will further propel our healthcare ecosystem to scale new frontiers globally”.
“PM Narendra Modi ji’s vision and progressive policies are giving a new fillip to India’s healthcare ecosystem,” he added.
Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, also lauded the acquisition.
“Taking the affordable care model to the UK - a potential game changer,” she added on X.
Last month, Biocon also announced the first US FDA-approved formulations facility in New Jersey, US. The company had acquired the plant from Eywa Pharma in 2023.
Meanwhile, the total consideration for the acquisition by Narayana Health reportedly is GBP 188.78 million for the 100 per cent stake, which comprises 60,001 equity shares of face value of GBP 0.02 each of Practice Plus Group Hospitals. The per share price for the acquisition will be GBP 3146.29, as per reports.
"The acquisition will offer a new choice of more accessible private healthcare...and help many more patients get the help they need," said Dr Devi Prasad Shetty, Founder and Chairman of Narayana Health.
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