Wholly-owned entity of ABCD Technologies LLP – DigiHealth Technologies LLP is planning to acquire 100 per cent stake in Pharmarack Technologies Pvt Ltd in tranches, according to a regulatory filings.
Pharmarack operates a digital platform aimed at integrating and solving problems across the pharmaceutical supply chain. Drug firms Sun Pharma, Lupin and Alkem Laboratories in separate filings stated that their investee entity ABCD Technologies LLP (to be renamed as IndoHealth Services LLP), has agreed to acquire 100 per cent ownership interest in Pharmarack Technologies Private Limited in tranches.
They further added, “the acquisition is a step by ABCD Technologies LLP to facilitate, enable and promote efficiency and good distribution practices including digitising healthcare infrastructure in India, inter alia, in support of the National Digital Health Mission of Government of India.”
“The upfront acquisition of 91.8 per cent of shareholding in Pharmarack is expected to be completed within a period of 30 days by purchase of shares from multiple existing shareholders in various lots,” the filings said.
The remaining 8.2 per cent of the shareholding in Pharmarack is likely to be acquired in multiple tranches over the next five years, it added.
“Cost of acquisition to DigiHealth Technologies LLP for upfront acquisition of 91.8 percent is Rs 111 crore. Cost of acquisition of remaining shareholding shall be linked to future performance of Pharmarack,” the filings said.
Source: PTI
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.