19August2018

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Reliance joins race to acquire Seven Hills Hospital in Mumbai

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 DTMT NETWORK
MUMBAI: The Nita Ambani-led Reliance Foundation has joined the race to buy the troubled 1000-bed Seven Hills Hospital in Marol, Mumbai.

Nita Ambani is now among 15 entities who have submitted their expression of interest documents to buy the hospital, once touted as Mumbai first 7-star health facility.

The Brihanmumbai Municipal Corporation (BMC), which holds a stake in the hospital alongside Seven Hills Healthcare’s Jitendra Das Maganti said that the base price for an outright sale will be close to Rs 2,100 crore.

The Seven Hills Hospital was declared bankrupt by the Hyderabad Bench of the National Company Law Tribunal after Seven Hills Healthcare defaulted on bank loans worth Rs 1,300 crore.

Those interested in buying the hospital include Apollo Hospital, Manipal Hospital, Bangalore-based Narayan Health, Bain Capital, AION Capital, and Aster DM Healthcare.

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