Aster DM Healthcare’s arm enters into SPA to acquire additional stake in Sanghamitra Hospitals

Post completion of acquisition, SHPL will become wholly owned subsidiary company of DRCMH Aster DM Healthcare’s subsidiary company -- Dr. Ramesh Cardiac and Multispeciality Hospital has entered into Share Purchase agreements on November 12, 2021 with the Key Promoters and Minority Shareholders (Sellers) of Sanghamitra Hospitals (SHPL), a step-down subsidiary company, for acquiring additional equity shares representing 49.00% of the paid up share capital of SHPL. The above acquisition of shares shall be carried out in six installments and is expected to be completed on or before March 31, 2024. Post completion of acquisition, SHPL will become wholly owned subsidiary company of DRCMH. Prior to this acquisition, DRCMH was holding 51% shareholding in SHPL.Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.