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Depending on the circumstances, Filingpoint a company can be closed for a variety of reasons. In some cases, the decision to close a business is made by company management in order to focus on other opportunities or to address challenges that cannot be overcome. Other times, a company may be closed due to legal or financial difficulties. Whatever the reason, company closure can have significant impacts on stakeholders.
A number of issues can arise during the process of a company closure, including financial losses, job losses, and disruptions to supply chains. Additionally, company closure can have an emotional and psychological impact on entrepreneurs or business owners who have invested their time, money, and resources into a business.
Fortis Healthcare has signed definitive agreements to divest its hospital business operations in Vadapalani, Chennai to Kauvery Medical Care (India) Limited ("Kauvery") for a total consideration of Rs152 crore. Kauvery is a leading Indian hospital group and this acquisition will further enhance their presence in Chennai with a combined total of 750+ beds across Alwarpet & Radial Road. The transaction is expected to be completed by the end of July, 2023. The acquisition is part of their portfolio rationalization and repositioning strategy to deepen their presence in select geographic clusters where they have a sizeable footprint. Further, this transaction is in line with their continued effort to maximize the value of their existing investments and strengthen their balance sheet. The deal is subject to customary regulatory approvals.
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