Narayana Health Acquires UK-Based Practice Plus Group Hospitals In Rs 2,200 Crore Deal
Through this acquisition, Narayana Health gains access to the UK healthcare market, where demand for surgeries, specially in the private sector, is projected to grow significantly in the coming years.
Narayana Hrudayalaya Ltd., which operates as Narayana Heath, announced the acquisition of UK based Practice Plus Group Hospitals in a deal valued at around Rs 2,200 crore (GBP 188.78 million) on Friday.
The acquisition represents Narayana Health’s move into the UK healthcare market, where Practice Plus Group operates 12 hospitals and surgical centres, specialising in high quality orthopaedics, ophthalmology and general surgery, the company said in an exchange filing.
With this integration, Narayana Health is well-positioned to bring the hospital division of Practice Plus Group into its ecosystem, leveraging its robust technology foundation to drive innovation, operational excellence, and long-term value creation for patients, partners, and stakeholders.
Through this acquisition, Narayana Health gains access to the UK healthcare market, where demand for surgeries, specially in the private sector, is projected to grow significantly in the coming years.
"Like Narayana Health, Practice Plus Group recognised that the majority of patients were struggling to access healthcare, while only a minority could afford costly private healthcare. We have both been working to meet the demands of those in between, and to offer a new choice of more accessible private healthcare," said Devi Prasad Shetty, Founder and Chairman of Narayana Health.
The company in August had said it is looking at heavy capital expenditure for the next few years for better growth. "We are looking at Rs 1,600–1,700 crore capex this year. We are expecting to keep this high-momentum capex for the next two to three years," Group Chief Financial Officer Sandhya J told NDTV Profit. "However, most of the capex investments we are making are greenfield in nature."
The company is currently working on new hospitals, which will add another 1,000 beds to its existing capacity.
Narayana Hrudayalaya Share Price Today
The business update was shared after market hours. The stock settled 2.09% lower at Rs 1,757.40 apiece on the NSE, compared to a 0.60% decline in the benchmark Nifty 50. The shares earlier during the day fell as much as 3.50% to Rs 1,732 per share.
Narayana Hrudayalaya shares have risen 38.07% in the last 12 months and 38.07% year-to-date.
