Sri Kauvery Medical Care (India) Limited entered into agreement to acquire Hospital business operations at Vadapalani, Chennai from Fortis Healthcare Limited (NSEI:FORTIS) for INR 1.52 billion on June 22, 2023. The transaction will be an all-cash deal and is estimated to be consummated by end of July 2023, subject to certain conditions as stipulated in the definitive agreements. Saraf and Partners Law Offices acted as legal advisor and Veda Corporate Advisors Private Limited acted as financial advisor to Fortis Healthcare.

Promode Murugavelu, Karthika Ravi Menon and Maasha Jiwal of Khaitan & Co. and Shardul Amarchand Mangaldas & Co acted as legal advisor to Sri Kauvery Medical Care. Ernst & Young acted as financial advisor to Fortis Healthcare Limited (NSEI:FORTIS).