Narayana Hrudayalaya Ltd has entered into an agreement to exclusively operate and manage Mission of Mercy Hospital and Research Centre on Park Street in Kolkata, adding a 100-bed healthcare facility to its management portfolio. The agreement was disclosed by the company in a regulatory filing on Monday.
The arrangement has been signed with Mission of Mercy Hospital and the Assemblies of God of North India. According to the filing, Narayana Hrudayalaya will use its healthcare and hospital-management expertise to support the facility’s long-term sustainability and service capacity.
Mission of Mercy Hospital currently has an approximate built-up area of 63,240.37 sq ft and a capacity of 100 beds. The filing identifies the facility as an existing hospital located on Park Street, one of Kolkata’s established central urban corridors.
The agreement is for operation and management only. It does not give Narayana Hrudayalaya ownership, lease rights or any other interest in the underlying land, the company said. This distinction keeps control of the land separate from the company’s proposed role in running the hospital.
Narayana Hrudayalaya said commercial operations under the arrangement will begin only after certain conditions precedent are fulfilled by the parties. The process may take up to 12 months from the date on which the agreement was executed, according to the filing.
The company did not disclose in the filing the precise nature of the conditions that must be completed before commercial operations begin. It also did not provide details of any planned changes to the hospital’s bed capacity, clinical departments, staffing or service mix.
The agreement places the proposed transition within a management model in which the healthcare operator is responsible for the hospital’s operations without acquiring rights over the property. The facility’s existing size and 100-bed capacity provide the publicly disclosed baseline for the arrangement, while the operating timeline remains subject to completion of the stated conditions.
The filing did not specify a firm date for the start of commercial operations. The next milestone will be the fulfilment of the conditions precedent by the parties, after which Narayana Hrudayalaya’s operating responsibilities at Mission of Mercy Hospital and Research Centre can commence.
