KIMS shares surge over 4% after company enters agreement for 100% acquisition
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Shares of Krishna Institute of Medical Sciences surged 4.4% on NSE after the company announced that it has entered into a definitive agreement for acquiring a 100% stake in Chalasani Hospitals. “Pursuant to the approval of the Board, we are pleased to inform that the Company has entered into a definitive agreement for acquisition of a 200-bed multi-specialty hospital at a prime location in Vizag,” informed the company via a filing to the stock exchanges. KIMS already has a multi-speciality hospital and gastro unit at Vizag and this addition is likely to help the company garner a larger share in the market. Besides, the hospital is situated in a prime locality which makes it an attractive proposition. “This is our 2nd Hospital in Visakhapatnam (KIMS-ICON Hospitals was acquired in 2018). It underscores the tremendous opportunity we see in this city and we’ll continue to look for inorganic opportunities to build on our dominant position in A...