Max Healthcare Institute (NSE:MAXHEALTH, BOM:543220) has agreed to acquire a 100% equity stake in Yerawada Properties for 2 billion Indian rupees, according to a Thursday filing to the Indian stock exchanges.
The company's board also approved a proposal to set up a 450-bed super speciality hospital on the land owned by Yerawada Properties in Pune, India, with an investment of 10.2 billion rupees.
The proposed extra capacity, through the acquisition, will be added over the next four years.
The company's shares were up nearly 2% in recent trade.
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