According to the ET, Wockhardt Hospitals is in advanced talk to sell some of its key hospitals to Fortis.
Wockhardt Hospitals has Hospitals at following 12 places.
- Mumbai
- Bangalore
- Hyderabad
- Kolkata
- Nagpur
- Surat
- Rajkot
- Bhavnagar &
- Nashik
The Company is looking to sell 3 or 4 key hospitals, including its Hospital in Muumbai and two hospitals in Bangalore, for around Rs.800 Crore.
The Company was earlier looking to sell 40-45% stake for which it was offered around Rs.600 Crore
According to analysts reports, these hospitals accounted for around 71% of total income in the fiscal ended March 2007.
The promoters, the Mumbai based Khorakiwala family currently own 93% in the Company.
Wockhardt Hospitals had a debt of Rs.436 Crore as on December 31, 2007, according to the draft prospectus filed by the company last year. Bank officials said that the debt marginally increased to Rs.500 Crore.
So Selling 3-4 key assets of the company will help to fulfill Rs.500 crore debt and raise an additional capital of Rs.300 crore for the company, Of course, selling 4 key assets will affect the 71% of the Total Revenue of Company.
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