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Bajaj Finserv Health Acquires Vidal Healthcare at an Enterprise Valuation of Rs 350 Crore

Bajaj Finserv Health acquires a 100% equity stake in Vidal Healthcare Services Private Ltd.

Bajaj Finserv Health Ltd, a wholly-owned subsidiary of Bajaj Finserv, entered into a share purchase agreement to acquire a 100% equity stake in Vidal Healthcare Services Private Ltd. 

The company announced in an exchange filing that the acquisition took place on Tuesday at an enterprise value of Rs 325 crore and is expected to close in the fourth quarter of the financial year 2023-24.

Upon completion of the acquisition, Vidal Healthcare and its two wholly owned subsidiaries, Vidal Health Insurance TPA Pvt Ltd and VH Medcare Pvt Ltd, will become wholly owned subsidiaries of Bajaj Finserv Health.

Vidal Healthcare’s acquisition will expand Bajaj Finserv’s capabilities in healthcare, empowering it to service consumer needs for hospitalisation.

JM Financial Ltd was the exclusive financial advisor for the acquisition deal for Bajaj Finserv Health. At the same time, Chitale Legal was the legal advisor and Ernst & Young conducted Financial and Tax Due Diligence.

For Vidal Health, PwC Corporate Finance acted as the exclusive financial advisor, while Ernst & Young provided tax advice, and Shardul Amarchand Mangaldas was the legal advisor.

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