Piyush Goyal hails Narayana Health UK deal

Union Commerce Minister Piyush Goyal called the acquisition of a UK hospital chain by Narayana Health a proud moment for India, highlighting the nation’s rising global healthcare capabilities. The Bengaluru-based group acquired Practice Plus Group Hospitals, which runs 12 facilities in the UK specializing in orthopedics, ophthalmology, and general surgery.

Goyal praised Dr. Devi Prasad Shetty, Chairman of Narayana Health, saying the move reflects India’s excellence in delivering world-class, affordable care and aligns with Prime Minister Narendra Modi’s vision for a stronger healthcare ecosystem. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, also welcomed the deal, describing it as a potential game-changer for introducing India’s cost-effective care model to the UK.

The transaction involves a total payment of £188.78 million for 100 percent ownership, covering 60,001 equity shares at £3,146.29 per share. Dr. Shetty stated that the acquisition will expand access to private healthcare in the UK, enabling more patients to receive timely treatment. Separately, Biocon recently launched its first US FDA-approved formulations facility in New Jersey, acquired from Eywa Pharma in 2023.