Poovayya, AZB Act on ₹430 Crore (Approx. $52 Million) Acquisition of People Tree Hospitals by Fortis Healthcare.
People Tree Hospital.
Bengaluru: Poovayya & Co and AZB & Partners have acted on Fortis Healthcare’s acquisition of TMI Healthcare, the entity operating People Tree Hospitals, for a consideration of ₹430 crore (approximately $52 million).
The transaction involves the complete acquisition of People Tree Hospitals’ facility in Yeshwanthpur, Bengaluru, and covers the hospital business in its entirety, including the underlying infrastructure and land. It also includes the acquisition of an adjacent land parcel from a third party, aimed at ensuring operational continuity and facilitating future expansion.
Poovayya & Co acted as the exclusive sell-side legal advisor to People Tree Hospitals. The firm advised on the drafting, review and negotiation of the transaction documents.
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Siddhartha George (L), Dharani Polavaram (C), Harini Sudersan (R) of Poovayya and Co.
The Poovayya transaction team was led by Siddhartha George (Partner), along with Dharani V. Polavaram (Partner), Harini Sudersan (Partner), Bilal Lateefi (Principal Associate), Vibhuti Tyagi (Senior Associate), Shagun Singh (Senior Associate), Satyajit Nair (Associate) and Bharani Tadimalla (Associate).
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Dispute resolution aspects were handled by Dharmendra Chatur (Partner), supported by Ishi Prakash (Senior Associate) and Vishal K (Associate). Real estate-related matters were advised by Savitha K.G. (Partner) and Swarna Shenoy (Partner), with support from Mohan Krishna (Senior Associate) and Pranav N (Associate).
AZB & Partners advised Fortis Healthcare on the acquisition.
The deal strengthens Fortis Healthcare’s presence in Bengaluru and adds the People Tree Hospitals facility in Yeshwanthpur to its growing network of healthcare assets.
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