Kovai Medical Center and Hospital Approves Slump Sale of Allied Health Sciences Division to Dr NGP Research and Educational Trust
Published on: May 11, 2026, 10:39 p.m. | Source: scanx.trade
Kovai Medical Center and Hospital Limited's Board approved the slump sale of its Allied Health Sciences (AHS) Courses division to Dr NGP Research and Educational Trust for a cash consideration of Rs. 84.54 Lakhs on 11th May, 2026. The AHS division contributed Rs. 396.37 lakhs in turnover (0.29% of total) and Rs. -339.13 lakhs in net worth (-0.31% of total) for FY ended 31.03.2025. The transaction is a related party deal conducted at arm's length, with the Business Transfer Agreement to be executed by 31.05.2026 and completion expected by 30th November, 2026. The divestiture is driven by new regulatory requirements under the National Commission for Allied and Healthcare Professions Act, 2021, and the company's strategic focus on core medical and healthcare activities.
