Apollo Hospitals acquires Nova Speciality in Rs. 145-cr deal.

Apollo Health and Lifestyle, a subsidiary of Apollo Hospitals Enterprise, has acquired Nova Specialty Hospitals.

The deal estimated at about Rs. 135-145 crore subject to final closure brings Nova Specialty's chain of 11 short stay surgery centres spread across eight cities under the Apollo Health fold, according to an announcement by Apollo Hospitals on the BSE.

Following the acquisition the chain will come under the Apollo brand and adds to the net work of 45 modular OTs, 350 patient beds providing in patient and out patient facilities.

The combined turnover will be about Rs. 115 - 125 crore for the year ending March 2015 and Apollo expects to break even in two years.

Apollo will introduce preventive health checks and sugar clinics in the new centres, the statement said.

HBL