Emami to buy out Todi's stake in AMRI in a month

Jun 30 2014, 19:55 IST
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SummaryEmami group would buy out 33 pct stake held by the Todis' of Shrachi Group in the AMRI hospital chain.

The Emami group would buy out 33 per cent stake held by the Todis' of Shrachi Group in the AMRI hospital chain within a month.

"Emami group will buy out the stake held by the Todis within a month," Emami group chairman R S Agarwal told reporters at the Merchants Chamber of Commerce here today.

The decision to buy out the stake in AMRI, Agarwal said, was that the Todis wanted to sell their shareholding and also because of the severe losses incurred after the fire at Dhakuria hospital in December 2010.

The West Bengal government has a notional one per cent stake in the hospital venture, while the balance would be held by the Emami Group.

The Dhakuria branch of AMRI, the key revenue driver, was closed after the fire in which 91 patients were killed.

Recently, the state government gave permission to start the OPD clinic, with patient admission planned to start shortly as the authorities had obtained the fire license and securing the health approval in process.

"It would take some time for AMRI to make profits," Agarwal said.

AMRI has a total 1,000 beds in its three units - Dhakuria, Salt Lake and Bhubaneswar.

Work on the Rs 500-crore Rajarhat project would start shortly, Agarwal added.

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