Sri Kauvery Medical Care (India) Limited | Acquisition of hospital in Chennai
Khaitan & Co advised Sri Kauvery Medical Care (India) Limited (SKMC), a leading healthcare service provider in South India, in relation to acquisition of Fortis Healthcare’s Vadapalani hospital. SKMC has entered into a business transfer agreement with Fortis Healthcare Limited (FHL) pursuant to which it will acquire FHL’s hospital undertaking located in Vadapalani, Chennai as a going concern on a slump sale basis for a lumpsum consideration of INR 152 crores. The acquisition of the Vadapalani hospital is in line with SKMC’s strategy to further expand its presence in Chennai, in addition to its existing facilities of 500+ beds at Alwarpet & Radial Road.
The core team consisted of Promode Murugavelu (Partner), Karthika Ravi Menon (Principal Associate) and Maasha Jiwal (Associate) with assistance from the following:
Employment and Labour law aspects: Anshul Prakash (Partner) and Abhimanyu Pal (Principal Associate)
Competition / Antitrust aspects: Anshuman Sakle (Partner), Soham Banerjee (Principal Associate) and Yatharth V Singh (Associate)
Litigation aspects: Arva Merchant (Partner), Thriyambak Kannan (Partner) and Vaishnavi Subrahmanyam (Senior Associate)
Intellectual property aspects: Nishad Nadkarni (Partner) and Reshma Gupte (Principal Associate)
Real Estate aspects: Arva Merchant (Partner) and Kartik Shiv Kumar (Principal Associate)