Saraf and Partners and Khaitan & Co acted for a deal involving Fortis Hospotel’s acquisition of Shrimann Superspecialty Hospital in Jalandar, Punjab.
Fortis Hospotel, a wholly owned subsidiary of Fortis Healthcare, entered into definitive agreements to acquire Shrimann Superspecialty Hospital from Shrimann Enterprises through a slump sale, (the sale of a business for a lump sum consideration) for INR4.6 billion (USD53.2 million).
Saraf and Partners advised Fortis Healthcare and Fortis Hospotel on all aspects of the transaction including structuring, drafting, negotiation, and finalisation of the agreements.
The transaction team was led by senior partner Vaibhav Kakkar, with partners Sahil Arora and Debarpan Ghosh. The real estate team was led by senior partner Saroj Jha.
Khaitan & Co represented Shrimann Enterprises and its partners. The core team comprised partner Anand Mehta, ably assisted by senior associate Vaishanshi Bhardwaj, and associates Akhil Thomas, Hansaja Pandya, Khushi Sharma and Palak Sanjeev Sheth.
Shrimann Hospital is a leading multi-speciality facility in Jalandhar, with 228 beds and the potential to expand to more than 450 beds. The NABH-accredited hospital offers a full range of super-specialties including cardiac sciences, nephrology, oncology, etc.
