Park Medi World to acquire Medicity Hospital in Rudrapur, enter Uttarakhand

Park Medi World Ltd has acquired The Medicity Hospital in Rudrapur, Uttarakhand, for Rs 177 crore, marking its entry into the sixth state in its pan-North India healthcare network expansion.

Hospital chain Park Medi World Ltd on Monday said it will acquire 100 per cent of the outstanding shareholding of The Medicity Hospital, Rudrapur, in an all-cash transaction valued at Rs 177 crore.

The acquisition marks Park Group's entry into Uttarakhand, expanding its presence into a sixth state.

The Medicity Hospital, Rudrapur, is multi-super speciality healthcare institution with a 330-bed capacity.

''This acquisition is consistent with the company's growth strategy, which seeks to maximise operational synergies and achieve economies of scale through strategic deployment of assets in high-potential, underserved markets,'' Park Medi World stated.

Dr Ankit Gupta, Managing Director, Park Medi World Limited, said, ''This acquisition marks a significant milestone in our strategic journey to build a world-class, pan-North India healthcare network''.