Saraf and Partners played a pivotal role in facilitating the sale of business operations, including land and building assets, related to Fortis Malar Hospital in Gandhi Nagar, Adyar, Chennai. The transaction involved the transfer to MGM Healthcare Private Limited for an approximate consideration of INR 128 crores.
The comprehensive legal support provided by Saraf and Partners encompassed various aspects of the transaction, from deal structuring to the drafting, negotiation, and finalization of pertinent documents. The leadership of Vaibhav Kakkar (Senior Partner) and Sahil Arora (Partner) spearheaded the Saraf and Partners team, with additional support from the real estate team led by Saroj Kumar Jha (Senior Partner).
MGM Healthcare was represented by JSA in this transaction.
Fortis Malar Hospital, with around 140 beds, faced certain legacy issues, prompting the need for this divestment. The sale aligns with Fortis Healthcare’s strategy of portfolio rationalization, focusing on strengthening its presence in specific geographic clusters where it holds a significant presence.
For MGM Healthcare, the acquisition aligns with its strategic goal of expanding its footprint in Chennai.
