Aashka Hospitals to acquire 70% stake in restructured entity via 4-party MoU
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Aashka Hospitals signed an MoU with 4 entities (Rhythm Medical Stores, Rhythm Multispeciality Hospital, Cardioplus Health Care, Rhythm Medical & Heart Hospital) to merge them into one company. Aashka will hold 70% voting rights and capital in the new entity, gaining majority board control and special rights like appointing directors and first right on share issuance. The 70% stake will be acquired from existing shareholders at a price determined through valuation. Not a related party transaction.
Major expansion move. Aashka gains 70% control in a larger combined healthcare entity, boosting scale and market presence.