BOM:544645

Park Medi World to Acquire Hospital in Uttarakhand, India; Shares Up 3%

Park Medi World (NSE:PARKHOSPS, BOM:544645) has agreed to acquire hospital operator V3 Healthcare for 1.77 billion Indian rupees, according to a Monday filing to the Indian stock exchanges.V3 Healthcare operates the 330-bed multi-super speciality hospital, The Medicity Hospital, at Rudrapur in Uttarakhand, India.Under the pact, the company will acquire 80% of the shareholding in V3 Healthcare by Aug. 31, and the remaining 20% will be acquired after March 31, 2030.The acquisition marks Park Group's entry into the Indian state of Uttarakhand and expands its presence to the sixth state.The company's shares were up over 3% in recent trade.

Park Medi World's Chief Human Resources Officer Steps Down; Shares Down 4%

Hospital chain Park Medi World's (NSE:PARKHOSPS, BOM:544645) chief human resources officer Manoj Khanna is stepping down from his position with effect from Tuesday, according to a same-day filing to the Indian stock exchanges.He will be transitioning to a different role within Park Group of Hospitals as a regional head.The company's shares were down nearly 4% in recent trade.

Park Medi World's Consolidated Profit Rises in Fiscal Q4

Park Medi World's (NSE:PARKHOSPS, BOM:544645) consolidated attributable profit rose to 708.6 million Indian rupees in the fiscal fourth quarter ended March 31, from 448.4 million rupees a year ago.Earnings per share came in at 1.78 rupees from 1.36 rupees a year earlier, the healthcare services company said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also increased to 4.60 billion rupees from 3.54 billion rupees a year ago.The company's shares were down nearly 2% in recent trade.

Choice Equity Starts Park Medi World at Buy with INR320 Price Target