KIMS HOSPITALS sign MOU to set-up a 325-bed multi-specialty hospital at Nashik in partnership with Dr. Raj Nagarkar

Krishna Institute of Medical Sciences (NSE: KIMS)has entered into an MOU with Dr. Raj Nagarkar to set up a Multi-Speciality Hospital - KIMS Manavata Hospital at Nashik with a total bed capacity of 325 Beds. KIMS will hold a 51% stake and Dr. Raj Nagarkar will hold a 49% stake in the proposed company.

Dr. Raj Nagarkar, a legendary oncological surgeon, with a vast experience of 21 years, has performed more than 45,000+ cancer surgeries. Dr. Raj has received his surgical oncology training from the prestigious Tata Memorial Hospital, Mumbai followed by MRCS at the Royal College of Surgeons, Edinburgh. He is heading HCG Manavata Cancer Centre, which is a 275 bed comprehensive cancer centre.

The new Hospital is expected to go live tentatively by March'24 and scaled up to full capacity over a period of time. A definitive agreement towards the transaction will be signed in due course.

Dr. Bhaskara Rao, MD, KIMS Hospitals said "We are immensely proud that we are entering Maharashtra by opening our new hospital in Nashik, a holy city with a rich cultural heritage. We are honoured to partner with Dr. Raj Nagarkar, who is a legend in the surgical oncology stream. We are confident that with this association, we will be able to bring our affordable quality care model to Nashik. With Dr. Raj's on-ground experience combined with our state-of-the-art medical infrastructure and our focus on affordable quality care, we will provide citizens of Nashik and surrounding places, with the best of healthcare.

Dr. Raj Nagarkar, MD, Manavata Healthcare said "At Manavata, we have always strived to provide the best medical care to our patients. We are extremely delighted that our partnership with KIMS Hospitals will give us an added impetus to provide quality multi-specialty care at affordable prices. We will work together to make KIMS Manavata, the destination of choice for patients seeking help."

Shares of Krishna Institute of Medical Sciences Limited was last trading in BSE at Rs. 1248.10 as compared to the previous close of Rs. 1231.55. The total number of shares traded during the day was 2012 in over 570 trades.

The stock hit an intraday high of Rs. 1260.55 and intraday low of 1233.00. The net turnover during the day was Rs. 2512327.00.

Source : Equity Bulls

Keywords

KrishnaInstituteofMedicalSciences MOU KIMS KIMSManavataHospital Nashik MultiSpecialityHospital