Rose Merc Ltd (RML) announced that it has signed a subscription agreement to acquire 50% stake in LK Vet Care (P) Ltd.
This said acquisition will enable the company to enter into Rural B2C market with presence in ever increasing Animal Husbandry sector related to Artificial Insemination with the market size of ~Rs 600cr, a statement said.
LK Vet Care was established with a vision to provide end-to-end cutting-edge technology in dairy and animal husbandry automation, which enhances productivity & brings transparency in the animal husbandry industry. The company is present in 1) Digital Artificial Insemination Technology, 2) e-Connected Veterinary Laboratory, 3) Mobile Veterinary Diagnostic Vans.
The company owns 2 patents and 5 design registrations on Digital Artificial Insemination Technology and utility process. The company has supplied these innovative products as an OEM to customers like Amul, BAIF, various state animal husbandry departments and private field veterinary practitioners (AIT, LSS, MAITRI etc), augmenting the existing manual operations by decision oriented technological interventions helping to provide the livestock owner a sustainable livelihood, eventually making a socio-economic impact and contributing to enhancing the GDP from village level, as per the statement.
After the use of LK Vet Care’s Digital AI technology products, customers such as Amul, BAIF, and various state animal husbandry departments have expressed satisfaction with the improved conception rate of artificial insemination (AI) services, which has now reached 2:1 from the previous 3:1 attempt ratio. This impactful and notable improvement underscores the success and effectiveness of the company’s Digital AI technology products and services, according to the statement.
LK Vet Care has a strategic tie-up with BEL Optronic Devices Ltd. (BELOP) Pune, which is a Defence PSU and a subsidiary of Bharat Electronics Ltd. (BEL).
Vaishali Parkar Kumar, Executive Director at Rose Merc Ltd (RML) said “This is a big development to enter into Animal Husbandry, a growing market in India. Rose Merc will enable to enter into rural markets in B2C segment. Further, it will enable to boost rural economy and improve farmer’s wellbeing.”
Sanjeev Latkar, CEO at LK Vet Care (P) Ltd said “we are pleased to be associated with Rose Merc Ltd. and looking forward to using their network for the growth of our company. It is a win-win for LK Vet Care and Rose Merc Ltd, as we together will be a part of bigger mission of making a socio-economic impact in livelihood of rural farmers giving them sustainability and thereby increasing the rural economy.”
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