Shalby Ltd Zoomed After Announcing of Healers Hospital in Gurugram

On March 13, 2024, the share price of the leading multi-speciality hospital chain, Shalby Ltd, rose ~6% after the company announced the acquisition of a 100% stake in Healers Hospital Private Ltd (HHPL) for ₹104 crores. The share price of Shalby Ltd opened at ₹240.95 and touched the day high of ₹243.75 at 3:05 PM.

On March 12, 2024, the company, in filing to exchange, stated that it had made a strategic investment in Healers Hospital Private Ltd, located in Gurugram, Haryana. The investment follows Shalby’s strategy to consolidate its asset base for the company’s recently acquired hospital, Sanar International Hospital (P K Healthcare Pvt Ltd) in Gurugram.

The board of directors, at their meeting held on March 12, 2024, approved acquiring a 100% stake in Healers Hospital Private Limited (HHPL) by way of secondary acquisition from its existing shareholders for an amount aggregating to approximately ₹104 crore based on the Due Diligence Report and Valuation Report by Registered Valuer and as per the conditions set out in the Term Sheet signed between the parties,” the company said in its release.

The said transaction is likely to be finished within 30 days post-approval. After the acquisition, Healers Hospital Private Limited will become a wholly-owned subsidiary of Shalby Ltd.

This strategic investment is part of the company’s continuous effort to bolster its asset portfolio following the acquisition of Sanar International Hospital (P K Healthcare Pvt Ltd.) in Gurugram.

Sanar International Hospital is currently operating on leased land held by Healers Hospital. With this acquisition, Shalby has changed its business model from a Leased model to an owned model for its recent acquisition of Sanar International Hospital in Jan 2024.

During Q3 FY2024, Shalby Ltd delivered a consistent performance in all key operational and financial parameters, with occupancy and In-patient count (Incl daycare) growing by 8.4% and 15.2% YoY, respectively. Hospital revenue and EBITDA also witnessed a YoY growth of ~ 11.5% and ~25.6%, respectively.

About Shalby Ltd

Shalby Ltd is engaged in the healthcare delivery space in India. It operates a chain of multi-speciality hospitals across India. The company operates 14 hospitals across India with a total bed capacity of 2,000+ beds. It also owns 60 outpatient clinics across 16 states in India and 5 OP clinics in African countries.

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