Bengaluru-based leading healthcare services firm and an affiliate of the NMC Group, BR Life has completed a significant stake acquisition of 96% in Odisha’s first super speciality healthcare centre, Kalinga Hospital for an estimated Rs 200 crores (around $31.2m) in two tranches, as reported byThe Pioneer. Inaugurated in the year 1990 by the then Chief Minister Biju Patnaik, Kalinga Hospital is built on a 10 acre land leased by Odisha government and was set up by 54 NRI Odias under the name of Hospital Corporation of Orissa, a company registered in the US.

DSK Legal assisted Hospital Corporation of Orissa in the structuring, execution and closing of the transaction and the team was led by partner Satish Kishanchandani, principal associate Mayank Mehta and associate Sameer Raina.

Chicago-based firm Gould & Ratner advised Hospital Corporation of Orissa on the US law aspects of the transaction.

A Delhi-based team of Desai & Diwanji advised BR Life in the deal.

Subhransu Biswal, the managing partner of ZuesnJove Consultants acted as the investment banker on the transaction.

Owned by Padma Shri Dr BR Shetty who is the founder-chairman of the UAE-based NMC Healthcare, BR Life aims to expand its healthcare services in Odisha by planning to set up multiple hospitals and to take over various hospitals for providing better healthcare services to 20,000 patients across India. The current acquisition is directed towards helping Kalinga Hospital retain its glory in the past two decades wherein the people of the state will be provided super speciality treatment at affordable costs by building new hospital building apart from launching an advanced OT, radiation therapy treatment, advanced sports injury treatment on the hospital premises.

2018-01-30

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