Narayana Health may buy out Westbank Hospital for Rs. 200 cr.

Devi Shetty-led Narayana Health is set to buy into Westbank Hospital that has two hospitals in West Bengal. According to multiple sources, Bangalore-based Narayana Health, which currently has 26 hospitals across 16 cities in India, is likely to pick up a controlling stake initially for an estimated Rs. 200 crore.

The deal is beneficial for Narayana Health, as it would increase its presence in the eastern part of the country. The hospital chain has been keen to make its foothold firm in the low-cost model of hospitals and has an ambition of having a total capacity of around 30,000 beds in the next five to seven years. Westbank Hospital has a 150-bed and another 175-bed multi-specialty hospitals in Howrah, adjacent to Kolkata, which is well connected to the southern part of Bengal.

'This would also help Narayana Health to attract more patients from Bangladesh, who come to West Bengal for treatment,' said a source.

BS