Narayana Hrudayalaya jumped 2.01% to Rs 1597.55 after the firm’s foreign subsidiary, Health City Cayman Islands (HCCI) entered into a joint venture (JV) agreement with 2070 Health Inc., W Health Ventures GP LLC, and Everhope Oncology Private.
The joint venture agreement aims to establish and operate a network of healthcare centers in India, specifically for the treatment of cancer patients, with a focus on chemotherapy treatment through the JV company.
2070 Health Inc. and W Health Ventures GP LLC are both incorporated under the laws of Delaware, USA while Everhope Oncology Private, is the joint venture company.
The equity subscription by parties will take place in three tranches over a period of time, HCCI will hold 50%, 2070 Health will hold 20% and W health Ventures GP LLC will hold 30% of the shareholding.
The company said that the total investment over a period of next 1 to 2 years is expected to be $10 million.
Narayana Hrudayalaya is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary, and primary healthcare facilities.
The company’s consolidated net profit increased 2.6% to Rs 192.94 crore in Q3 FY25 as compared with Rs 188.02 crore in Q3 FY24. Net sales jumped 13.5% YoY to Rs 1366.68 crore during the quarter ended 31st December 2024. Capital Market