We wish to inform you that our Board of Directors at their meeting held on 11.05.2026 had inter alia considered and grant approval to transfer the permission in the name of the Company ....
KOVAI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kovai Medical Center & Hospital's Board has approved the transfer of its Allied Health Sciences (AHS) Courses division to Dr NGP Research and Educational Trust via a slump sale for cash consideration of Rs. 84.54 lakhs. The AHS division contributed only Rs. 396.37 lakhs (0.29%) of the company's total turnover and had negative net worth of Rs. -339.13 lakhs for FY2025. The sale is driven by new regulatory requirements under the National Commission for Allied and Healthcare Professions Act, 2021, which would require additional infrastructure investment. The company wants to focus on core medical education programmes with higher returns. The buyer is a related party as promoter directors serve as trustees of the trust. The transaction is on arm's length basis with independent valuation. BTA will be executed before May 31, 2026, with completion expected by November 30, 2026.
Minimal financial impact as the AHS division represents less than 0.3% of company revenue and was loss-making. The divestiture removes a small non-core division and allows management to focus on core healthcare and medical education services. No change in shareholding pattern.