Narayana Hrudayalaya‘s stock rose by 2.01% to ₹1,597.55 following the announcement that its foreign subsidiary, Health City Cayman Islands (HCCI), has entered into a joint venture (JV) agreement with 2070 Health Inc., W Health Ventures GP LLC, and Everhope Oncology Private.The joint venture aims to establish a network of healthcare centers across India, specializing in cancer treatment, with a particular focus on chemotherapy.
Under the agreement, HCCI will hold a 50% stake in the JV company, Everhope Oncology Private, while 2070 Health Inc. will own 20%, and W Health Ventures GP LLC will hold 30%. The equity subscription will take place in three phases, with a total investment of $10 million planned over the next one to two years.
Narayana Hrudayalaya is a leading healthcare provider in India, operating a chain of multispecialty, tertiary, and primary healthcare facilities. The company reported a 2.6% rise in consolidated net profit to ₹192.94 crore in Q3 FY25, compared to ₹188.02 crore in Q3 FY24. Net sales grew by 13.5% year-on-year, reaching ₹1,366.68 crore for the quarter ended December 31, 2024.
