Rainbow Medicare expands to Northeast

Hyderabad: Hyderabad-based Rainbow Children’s Medicare Ltd (RCML), a leading multi-speciality pediatric hospital chain, announced on Tuesday that it will acquire a 76 per cent controlling stake in Guwahati-based Pratiksha Hospital for around Rs171 crore.

The acquisition, fully funded through RCML’s cash reserves and internal accruals, values Pratiksha Hospital at an enterprise valuation of Rs171 crore. The company has signed a definitive agreement with the hospital’s promoters for the stake purchase.

Post-acquisition, RCML will hold a majority share while founder-promoter Dr Pramod Kumar Sharma and his family will retain the remaining 24 per cent stake. Established in 1995, Dr Sharma is recognised as a pioneer in IVF and minimally invasive gynaecological surgery in Northeast India. Pratiksha Hospital began operations in Guwahati and achieved a milestone in February 1997 by delivering its first IVF baby.