Cipla Limited (Cipla) announced that it has agreed to further invest INR 42 crore (approx.) in digital tech company GoApptiv Private Limited (GoApptiv).
In line with Cipla’s ambition to strengthen investments in channels of the future, this development will further expand Cipla’s presence across the healthcare continuum, especially to the underserved population by enabling greater access to lifesaving treatments, according to the statement.
With the completion of this deal, Cipla’s total stake in GoApptiv will increase to 22.99% on a fully diluted basis. This is Cipla’s third investment in GoApptiv, which will be made in a combination of equity shares and compulsorily convertible preference shares. GoApptiv has experienced significant expansion in underpenetrated areas and product lines following prior investments by Cipla in 2022 and 2020.
Commenting on the development, Umang Vohra, MD and Global CEO, Cipla Limited, said, “Our long-standing partnership with GoApptiv has helped us increase penetration in underserved rural areas of India and address critical healthcare gaps where pharmaceutical coverage is limited. In this era of technology-driven healthcare, this expanded investment will help us deliver patient-centric solutions and further strengthen our digitisation agenda to drive Cipla’s next phase of growth.”
GoApptiv’s use of technology to provide quality and affordable healthcare aligns with Cipla’s commitment to making a positive impact on communities through innovative solutions. The current investment round will further solidify the partnership with Goapptiv in addressing healthcare disparities in underserved regions of India, as per the statement.
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