Artemis Medicare Services Ltd Share Price – NSE  /  BSE

Healthcare, Small Cap

Artemis Medicare Services announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 3 May 2024 .

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Artemis Medicare Services has signed definitive agreements with International Finance Corporation (IFC), a member of the World Bank Group, to raise funds of Rs 330 crore in the form of Compulsorily Convertible Debentures (CCDs).

Artemis operates a total of 713 beds predominantly in the Delhi NCR region, including a 541-bed quaternary care, super speciality hospital accredited by Joint Commission International and National Accreditation Board of Hospitals and Healthcare Providers and five hospitals under the Artemis Lite and Daffodils brands. Additionally, the Company runs seven centres under the Artemis Cardiac Care brand under a Joint Venture with Philips. Artemis has 30% representation of women in its board including its Managing Director, Dr Devlina Chakravarty.

The Company aims to increase bed capacity, introduce advanced speciality services, and enhance patient care to bridge demand-supply gaps and bolster its presence in Delhi NCR. Leveraging brownfield and greenfield opportunities, it aims to expedite growth and extend services to all sections of society in the coming years.

IFC's investment will help the Company improve healthcare accessibility and quality by supporting its growth plans in bed capacity, introducing newer medical treatment specialities, and establishing cardiac care centers in Tier 2 and 3 cities. It aims to foster job creation and professional development in the medical field, particularly among women, driving a sector-wide shift towards more affordable and high-quality healthcare solutions in areas they are needed most.

The transaction is subject to the approval of Artemis's shareholders, in-principle approval from stock exchanges and fulfilment of customary closing conditions

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Artemis Medicare Services will hold a meeting of the Board of Directors of the Company on 5 April 2024.

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Net profit of Artemis Medicare Services rose 10.53% to Rs 11.55 crore in the quarter ended December 2023 as against Rs 10.45 crore during the previous quarter ended December 2022. Sales rose 16.71% to Rs 218.78 crore in the quarter ended December 2023 as against Rs 187.45 crore during the previous quarter ended December 2022.

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