Apollo Hospitals surges on expansion buzz
The company is in advanced stages of negotiations to take over the 80-bed Lifeline Multi-Specialty hospital,report.
Apollo Hospitals Enterprises has surged over 5% to Rs 836 on reports that the company is in advance stage to acquire a Chennai-based Lifeline Hospitals.
“Healthcare major Apollo Hospitals is in advanced stages of negotiations to take over the 80-bed Lifeline Multi-Specialty hospital in the heart of Chennai's information technology corridor in Perungudi,” the Times of India report suggests.
Lifeline Hospitals chairman Dr J S Rajkumar confirmed that his team was negotiating with the Apollo Hospitals. The contour of the transaction involves Apollo entering into a long term lease agreement to manage Lifeline, added report.
The stock opened at Rs 799 and touched high of Rs 847 on BSE. A combined 101,596 shares have changed hands on the counter till 1018 hours on BSE and NSE.
“Healthcare major Apollo Hospitals is in advanced stages of negotiations to take over the 80-bed Lifeline Multi-Specialty hospital in the heart of Chennai's information technology corridor in Perungudi,” the Times of India report suggests.
Lifeline Hospitals chairman Dr J S Rajkumar confirmed that his team was negotiating with the Apollo Hospitals. The contour of the transaction involves Apollo entering into a long term lease agreement to manage Lifeline, added report.
The stock opened at Rs 799 and touched high of Rs 847 on BSE. A combined 101,596 shares have changed hands on the counter till 1018 hours on BSE and NSE.