Advancing Podiatric Care: KIMS Invests in Meda Institute

On June 11, Krishna Institute of Medical Sciences Limited finalised an agreement to invest ₹1,02,00,000 by acquiring 10,20,000 Equity Shares with a Face Value of ₹10/- each in Meda Institute of Podiatry Private Limited. The entity being acquired, Meda Institute of Podiatry Private Limited, belongs to the Healthcare Industry.

Details of the Acquired Entity

Meda Institute of Podiatry Private Limited is a recent incorporation founded by Dr Meda. Dr Meda brings over 12 years of expertise in vascular surgery and a particular passion for the field. He holds a prestigious DNB in Vascular and Endovascular Surgery from Narayana Hrudyalaya Hospital, Bangalore, and multiple certifications and fellowships from esteemed institutions in vascular surgery. The company has a total paid-up Equity Share Capital of ₹2,00,00,000 and is yet to commence its operations.

Objects and Effects of Acquisition

Krishna Institute of Medical Sciences Limited (KIMS) is investing in Meda Institute of Podiatry Private Limited to establish and expand small Podiatric hospital clusters. This initiative aims to ensure that the infrastructure adequately caters to the specific needs of podiatric care in Hyderabad, India. The initial phase involves constructing a 9-bed hospital within a 14,000 sq. ft. space, with provisions for expansion to up to 20 beds as per requirements.

Details of the Acquisition

The acquisition of Meda Institute of Podiatry Private Limited by Krishna Institute of Medical Sciences Limited (KIMS) is anticipated to be completed within a month. KIMS will acquire a controlling interest of 51% in the company through a cash transaction. The shares will be subscribed at the face value of ₹10 per share. This acquisition will enable KIMS to hold majority ownership and exercise control over the operations and strategic direction of Meda Institute of Podiatry Private Limited.

About Meda Institute of Podiatry Private Limited

The recently established Meda Institute of Podiatry Private Limited specialises in diagnosing, treating, and preventing foot disorders, addressing a prevalent need in India, where foot ailments are widespread across all age groups. It focuses on catering to foot care needs, aiming to bridge the gap in awareness and medical attention for foot conditions, which often go untreated until reaching severe stages due to a lack of awareness.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.