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Dr. Ramesh Cardiac and Multispeciality Hospital ("DRCMH"), a subsidiary of Aster DM Healthcare, signed a share purchase agreement to acquire 100% stake in Adiran IB Healthcare for Rs 1.61 crore.
Andhra Pradhesh-based Adiran IB Healthcare is a 50 bedded hospital. It is being acquired as part of expansion to provide healthcare services. Its turnover stood at Rs 9,66,82,223 in FY 2021-22. The transaction is expected to be completed on 31 January 2023.
Aster DM Healthcare is primarily involved in the operations of healthcare facilities, retail pharmacies, and providing consultancy in areas relating to healthcare.
The company's consolidated net profit declined 56.8% to Rs 46.21 crore despite of 12.5% rise in net sales to Rs 2,816.30 crore in Q2 FY23 over Q2 FY22.
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