Asiri Hospitals Group forms JV with India-based cancer care firm

Asiri Hospitals Group said it has entered into a Joint Venture Agreement with India-based Cancer Treatment Services Hyderabad Ltd. to form a joint venture company for providing comprehensive state-of-the-art oncology services.

Asiri AOI Cancer Centre Ltd. was formed as a fully-owned subsidiary of Asiri Surgical Hospital PLC on 17th March 2017, the Asiri Hospitals group said in a stock exchange filing.

Asiri Surgical has sold 50% stake of Asiri AOI held by them to Cancer Treatment Services Hyderabad Private for Rs. 212.5 million on 29 September. Asiri Surgical Hospitals will gain Rs. 185.5 million on the sale of shares.