Narayana Hrudayalaya Ltd. · NSE:NH
Narayana Hrudayalaya — Merger or Acquisition (November 2025)
12 slides from Narayana Hrudayalaya's merger presentation, Nov 3, 2025
Slide 1: Revised Investor Presentation submission letter to exchanges
Date of submission: November 03, 2025 To, To, The Secretary The Secretary Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Mumbai – 400 051 Dalal Street, Mumbai
Slide 2: Acquisition of UK-based Practice Plus Group (PPG) Hospitals Limited
Acquisition of UK-based Practice Plus Group (PPG) Hospitals Limited 1
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Narayana Hrudayalaya Limited (the "Company"), content of which was compiled from sources believed to be reliable for informational purposes only and are based on information regarding the Company and the economic, regulatory, market and other conditi
Slide 4: Transaction Summary
Transaction Summary One of UK’s largest independent providers to the NHS with three divisions: Secondary Care, Integrated Urgent Care (NHS 111), and Practice Plus Group (PPG) Health in Justice (healthcare in prisons and immigration removal centers) Overview Owned by Bridgepoint, one of the world
Slide 5: Rationale for the acquisition
Rationale for the acquisition Synergies with NH Low-Risk, Value- International Expansion Attractive UK Market Operating Model Accretive Entry Leverage Cayman learnings Market witnessing shift Management stability with Multi-year evergreen NHS to a larger addressable towards day care favourab
Slide 6: NHS Overview
NHS Overview NHS waiting list (in ‘000s) Increasing Private Outpatient and Daycare Market (GBP Bn) Pre-COVID Mar-20 Aug-25 7,415 15 4,570 11 2,890 10 620 191 1 Total Waiting > 18 weeks > 52 weeks CY2018 CY2022 CY2025E Increasing NHS outsourcing (GBP Bn) Increasing Private Payors Contribution (GBP Mn
Slide 7: Target a critical partner to the NHS, underpinned by secured long-term contracts
Target a critical partner to the NHS, underpinned by secured long-term contracts 5th Largest Private 4th Largest NHS Healthcare network in Healthcare service the UK provider ~1,300 37 330 >10 Years Doctors & Clinical staff OTs IP/OP beds NHS contract length Ophthalmology Centers Hospitals/ Surgical
Slide 8: Revenue Mix of Practice Plus Group Hospitals Limited
Revenue Mix of Practice Plus Group Hospitals Limited Revenue Split Therapy Mix Private-Pay Others 6% 7% UTC 5% OPD 13% NHS 93% Orthopaedic 45% Volume Split Diagnostics 6% Private-Pay 1% Endoscopy 5% Ophthalmology General Surgery 5% 12% Oral Surgery 4% NHS 99% Note: All data pertains to 9mFY25 (Oct-2
Slide 9: Ready platform for future growth
Ready platform for future growth Leverage existing management & brand: Asset Light model with growth visibility: • Stable management team with multi-decadal experience; Key stakeholders • Asset light day care model, focused on high throughput indications with relationships (NHS etc.) intact propensi
Slide 10: Appendix: Financials
Appendix: Financials P&L Summary of PPG Hospitals Ltd. Key Balance Sheet items of PPG Hospitals Ltd.** GBP Mn FY23A FY24A FY25* GBP Mn FY23 FY24 FY25* Revenue 211 229 250 Net Block 63 78 83 Centre EBITDA 32 38 43 Net working capital (2) (0) 6 Adj. EBITDA (Pre-IFRS) 13 16 20 Less - Other non current
Slide 11: Appendix: Valuation Summary
Appendix: Valuation Summary Valuation summary GBP Mn Enterprise Value 183 EV/(FY25- TTM Adj. EBITDA – Pre IFRS) 9.2x EV/(FY26- NTM Adj. EBITDA – Pre IFRS) 7x to 8x Note: • Financial Year from 1st Oct to 30th Sept 10
Slide 12: Thank You
Thank You ab ‘Narayana Health 11
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