Narayana Hrudayalaya Ltd has entered into a long-term Operation and Management Agreement to take charge of the Mission of Mercy Hospital & Research Centre at Park Street, Kolkata.
The agreement has been signed with Mission of Mercy Hospital and Research Centre and The Assemblies of God of North India. Under the arrangement, Narayana Hrudayalaya will have exclusive responsibility for operating, managing, directing and controlling the hospital.
The facility currently has 100 beds and covers approximately 63,240.37 square feet across a basement, ground floor and six upper floors. Narayana Hrudayalaya will bring its healthcare management expertise to support the hospital’s operational efficiency, service capacity and long-term sustainability.
The company clarified that the agreement is limited to the hospital’s operation and management. It does not provide Narayana Hrudayalaya with ownership of the property, lease rights or any other interest in the underlying land.
The start of commercial operations will depend on the completion of specified conditions by the parties. The process could take up to 12 months from the date the agreement was signed.
Mission of Mercy Hospital and Research Centre is a society registered under the West Bengal Societies Registration Act, 1961, with its registered office at 125/1, Park Street, Kolkata. The Assemblies of God of North India is also registered under the Act and has its registered office at 18, Royd Street, Kolkata.
Narayana Hrudayalaya said it does not hold any shareholding in either organisation. It also confirmed that neither entity is connected with its promoter, promoter group or group companies, and that the arrangement does not constitute a related-party transaction.
Narayana Hrudayalaya shares closed at ₹1,722 on the BSE on October 5, down ₹19.85, or 1.14%.
The partnership is expected to strengthen the operational capabilities of the 100-bed Kolkata facility while allowing Narayana Hrudayalaya to expand its healthcare management footprint without acquiring ownership of the hospital or its underlying property.
(Photo courtesy: narayanahealth.org)