Park Medi World share price jumped over 8% to a record high on Monday after the company announced that its board of directors considered and approved the acquisition of V3 Healthcare Private Limited which operates a multi-super speciality hospital in the name of “The Medicity Hospital”.
Park Medi World shares rallied as much as 8.22% to a fresh high ₹280.80 apiece on the BSE. The rally in the healthcare stock was also supported by strong trading volumes. Around 19 lakh equity shares of Park Medi World changed hands on stock exchanges, significantly higher than its one week average trading volume of 6 lakh shares and one month average volume of 10 lakh shares.
North India’s second largest chain of hospitals, Park Medi World announced the execution of a definitive agreement to acquire 100% of the outstanding shareholding of The Medicity Hospital, Rudrapur, in an all-cash transaction valued at ₹177 crore.
The company said that the 80% of the shareholding will be acquired on the date of signing the share purchase agreement by August 31, 2026, and the remaining 20% will be acquired after March 31, 2030. This acquisition marks Park Group’s entry into Uttarakhand, expanding its presence into a sixth state.
The Medicity Hospital, Rudrapur, is a well-established multi-super speciality healthcare institution with a total capacity of 330 beds. As the largest hospital in the Kumaon region, the facility spans over ~7,000 square meters of land with approximately 1.64 lakh square feet of covered area, Park Medi World said in a release on May 25.
Park Group currently operates 16 hospitals with a combined capacity of 3,960 beds. In addition to this proposed 330 bed facility in Rudrapur, Uttarakhand, Park Group is in the process of integrating four additional hospitals. These projects are in various stages of execution and will add 1,500 beds to its network.
With these, Park Group’s total capacity is expected to reach 5,790 beds by March 2028, it added.
Park Medi World Share Price Performance
Park Medi World share price has gained 20% in one month and has jumped 48% in three months. The stock has surged 86% on a year-to-date (YTD) basis.
At 11: 30 AM, Park Medi World share price was trading 7.50% higher at ₹278.90 apiece on the BSE.
