Park Medi World Enters Uttarakhand, Acquires The Medicity For Rs 177 Cr

(MENAFN- AsiaNet News) Park Medi World Limited has entered the Uttarakhand healthcare market through the acquisition of The Medicity Hospital, as the hospital chain looks to expand its presence across North India. According to an exchange filing, Park Medi World has signed a definitive agreement to acquire 100 per cent stake in The Medicity Hospital in an all-cash transaction valued at around Rs 177 crore. The Medicity Hospital in Rudrapur is a multi-speciality healthcare facility with a capacity of 330 beds and is among the NABH-accredited hospitals in the Kumaon region. The hospital is spread across around 7,000 square metres of land and has approximately 1.64 lakh square feet of covered area.

Strategic Rationale for Expansion

The company said the acquisition is part of its expansion strategy aimed at increasing its presence in underserved healthcare markets and improving operational scale across regions. The acquired hospital provides services across multiple medical specialties and is equipped with modern medical infrastructure. The company said it plans to strengthen clinical services and improve operational efficiency after the acquisition. Park Medi World said the transaction is expected to support its financial performance through higher bed utilisation, expansion of healthcare services and integration of operations over the medium to long term.

Leadership Commentary

Speaking on the acquisition, Ankit Gupta, Managing Director, Park Medi World Limited, said the company was looking to expand its healthcare network across North India through acquisitions in strategically located markets. "This acquisition marks a significant milestone in our strategic journey to build a pan-North India healthcare network," Gupta said. He added that the hospital's location in the Kumaon region and its existing infrastructure were key factors behind the acquisition. The company said the transaction aligns with its long-term plan to expand healthcare access and strengthen its regional presence through acquisitions and operational integration. The acquisition will expand Park Medi World's presence to six states and strengthen its hospital network in North India. (ANI) (Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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