NRI tycoon buys Delhi’s Rockland Hospitals

July 18
14:27 2016

nri-tycoon-buys-delhisAbu Dhabi-headquartered VPS Healthcare, owned by billionaire radiologist Shamsheer Vayalil, son-in- law of NRI tycoon M A Yusuffali, has acquired New Delhi-based Rockland Hospitals. VPS will be investing Rs 1,500 crore for the 100% acquisition and further development of Rockland network in the National Capital Region (NCR).

TOI first reported the impending deal on May 9. “The deal was signed towards the end of June and is effective from the July 1. We are committing approximately Rs 1,500 crore for this investment deal,” Shamsheer said. According to him, he is buying out the founders completely.

International Finance Corporation, which held a minority stake, exited as part of the deal. Rockland was founded by entrepreneur Rajesh Srivastava, who passed away in January this year.

Share

Related Articles

SS Dental Clinic

Telangana Haritha Haram

Free Live TV