Shares of Global Health, which runs hospitals under the Medanta brand, hit an all-time high of Rs 518.55, up 3% on the BSE in Friday’s intraday trade in an already subdued market. Shares of the company, which operates in the hospital business, have risen 13% in the past two days. The S&P BSE Sensex was down 0.21% at 61,189 at 9:37 am.

Medanta has been trading at its highest level since it went public on November 16, 2022. It surpassed the previous high of Rs 487.75 touched on November 24. With the surge in the past two days, the stock is now trading at 54% higher than its issue price of Rs 336 per share.

Founded by renowned Cardiovascular and Cardiothoracic Surgeon Dr Naresh Trehan, Global Health is one of the largest privately owned multi-speciality tertiary care providers in North and East India. The “Medanta brand” operates five hospitals in five cities.

Medanta provides healthcare services in more than 30 medical specialities and employs more than 1,400 physicians led by experienced department heads. Medanta’s operating hospital is 4.7 million square feet with 2,571 beds.

On Monday, February 13, Medanta signed a binding term sheet with Elinquisite Real Estate Private Limited to open a new 300-bed hospital in Indore under an operations and management (O&M) arrangement.

The new hospital will have about 100 intensive care beds, about 15 operating theatres, and a cath lab and will also offer daycare for chemotherapy and radiation. The hospital is expected to begin operations in the fiscal year 2027.

Meanwhile, in the October-December quarter (Q3FY23), Medanta reported its highest-ever quarterly revenue of Rs 706.2 crore, up 19% year-on-year.