Max Healthcare and Touch Healthcare signs agreement to settle dispute
Max Healthcare Institute and TPG-backed Touch Healthcare Private reached a mutual agreement on Tuesday in respect of the ongoing arbitration proceedings.
Max Healthcare had moved the courts alleging that while Touch Healthcare had signed a term sheet with it for the sale of Care Hospitals, the latter went ahead with a better offer from private equity major Blackstone. The court had asked both parties to go for arbitration, following which both parties resolved their dispute through mutual agreement.
As per the agreement, the arbitrator has passed a consent award discontinuing the arbitration proceedings without the imposition of costs, said a statement from the company.
Max Healthcare Institute filed a breach of contract case against Touch Healthcare Private and Quality Healthcare last year.
First Published: Mar 12 2024 | 10:26 PM IST