Amrex Ventures Group
Amrex Ventures Group

Amrex acquires further stake in Woodlands Hospital; Bata India sells

ANI | Updated: Jun 08, 2021 16:13 IST


Kolkata (West Bengal) [India], June 8 (ANI/India PR Distribution): Amrex Ventures Group through Amrex Marketing Private Limited on Saturday acquired an additional 2% equity stake in one of the oldest private hospitals in Kolkata, Woodlands Multispeciality Hospital Limited, from Bata India Limited for an undisclosed amount.
In October 2019, Amrex Ventures Group acquired shares in Woodlands for the first time.
"Woodlands is a part of Kolkata's landscape and our acquiring additional equity stake in Woodlands reflects our confidence in the hospital. The company has never been in better financial shape and PE valuations of the healthcare sector are simply fantastic. With Bata India cashing out, we are hopeful that other legacy investors including Tata Steel, ITC and SCI will divest in our favour," said Keshav Parasramka of Amrex Ventures Group.

The RP-Sanjiv Goenka Group, took control of at least 80% equity stake in Woodlands, through a court-approved restructuring of debt and equity scheme in 2011.
"Sanjiv Goenka has in January 2021 announced the 300 crore expansion and modernization plan for Woodlands and it is hard not to get excited about progress like that. Other than financial aspects, hospitals will play an increasingly important role even after the present pandemic is controlled", Parasramka mentioned.
Share prices of hospitals have seen sharp gains recently as investor focus shifted to COVID-19 related opportunities taking some of their price to earnings ratios to increasingly high levels. The viral resurgence in India after a period of lull has elevated the fortunes of hospitals as demand soars for COVID-19 hospitalization. Analysts expect hospital and medical services stocks to keep climbing and outperforming Nifty over the medium term.
Amrex Marketing Private Limited, earliest of the Amrex Ventures Group, is a pioneer in the Indian alternative and financial asset industry owned by the Parasramka family that has structured unique commercial solutions for some of the largest financial institutions including ICICI Ventures, SUUTI, IDBI, etc. Amrex has invested in businesses across sectors, geographies, strategies and economic cycles.
This story is provided by India PR Distribution. ANI will not be responsible in any way for the content of this article. (ANI/India PR Distribution)

Loading...
iocl
iocl