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Moolchand Healthcare acquires Agra based Pankaj Apollo Hospital
New Delhi, January 05, 2013
Moolchand Healthcare, a leading healthcare services provider, today announced it has completed the acquisition of Pankaj Apollo Hospital, a tertiary care hospital based in Agra. Pankaj Apollo Hospital is the largest private tertiary care hospital in Agra with a capacity of 200 beds.
"Moolchand Healthcare is excited about the acquisition as it enables us to strengthen our footprint in the NCR and adjoining areas. The asset is an extremely high quality hospital and is an excellent fit strategically. In addition, it provides Moolchand a early mover advantage as leading hospital groups are largely absent from the Agra market." says Mr. Vibhu Talwar, Managing Director, Moolchand Healthcare.
"Moolchand intends to bring the best of healthcare services available in Delhi to Agra and Western Uttar Pradesh. Many of our leading clinicians will now also be available at Moolchand Agra. In Phase 1, over the next 18 months, we expect to expand the Hospital to provide a comprehensive cancer institute. Post that, in Phase 2, we intend to expand capacity to 300 beds. Our total capital commitment towards this project is Rs 75 crores." he adds.
"This acquisition is in line with Moolchand Healthcare’s Rs 500 crore expansion plan announced earlier this year and enables Moolchand to expand its footprint to cover Western Uttar Pradesh. We are aggressively seeking additional acquisition opportunities as we intend to assemble a portfolio of 5-10 hospitals over the next few years." says Mr. Shravan Talwar, Managing Director, Moolchand Healthcare.
Moolchand was advised by Sapphire Professional Services (Financial Advisors) and Khaitan & Company (Legal Advisors) on this transaction.
As one of India’s foremost names in healthcare, Moolchand has been setting standards for excellence in healthcare for the past half century. Our excellence, innovation and quality mindset have won us many accolades/accreditations including ISO 9001:2008, ISO 27001, IMC Ramakrishna Bajaj National Quality Award 2009-Outstanding Achievements.
We aspire to be the lifelong healthcare partner of our customers by delivering their healthcare wishlist: superb physicians, cutting-edge technology, compassionate care, integrity and affordable excellence.