Park Medi World shares surge 6% on launching new hospital in Panchkula

Shares of hospital chain operator Park Medi World rose as much as 5.55% to hit an intraday high of ₹216.20 on the National Stock Exchange (NSE) after the company informed exchanges that it opened a new super specialty hospital in Panchkula. On the BSE, Park Medi World shares advanced as much as 5.7%.

Park Medi World said that it opened advanced multi-super specialty hospital in Panchkula, alongside the ongoing expansion of its Mohali facility catering to healthcare needs in the Tricity region of Chandigarh, Panchkula and Mohali.

"The hospital has been developed to address the growing demand for tertiary and quaternary care services across Haryana, Punjab, Himachal Pradesh, and Chandigarh. By bringing high-end medical care closer to patients, the hospital aims to reduce dependence on metro cities such as Delhi for advanced treatments," Park Medi World said in a press release.

“The Panchkula hospital is equipped with advanced diagnostics, modular operation theatres, critical care infrastructure, and will deliver comprehensive care across key specialties including oncology, neurosciences, orthopaedics, cardiology, and critical care including robotic-assisted procedures,” the company added.

Park Medi World shares made stock market debut in December last year and the stock is currently trading 33% higher than its initial public offering (IPO) price of ₹162.

Park Group is North India-based hospital chain operator, operating 16 hospitals with a combined capacity of 3,960 beds. Park Group is in process of integrating additional five hospitals which are under various stages of execution along-with expansion of existing facilities resulting in addition of 1,500 beds. These expansions will take Park Group’s total bed capacity to 5,460 beds by March 2028.

As of 11:41 am, Park Medi World shares came off intraday highs in noon deals and traded 2.91% higher at ₹210.80, outperforming the NIFTY IPO index which was up 2.02%.