Digital healthcare company Pharmeasy on Friday announced the purchase of diagnostic chain Thyrocare for Rs 4,546. The deal was signed by FarmEasy’s parent Unicorn API Holdings and Thyrocare Technologies Chairman and MD A Velumani. Under the deal, Pharmeasy will buy 66.1 per cent stake in Thyrocare. The company will buy this stake from A. Velumani and his associate at Rs 1,300 per share.
Open offer will come for additional 26% stake in Thyrocare
The statement related to the deal said that this is a very important deal as the startup is buying a majority stake in any such digital healthcare company. API’s subsidiary FarmEasy will make an open offer to buy an additional 26 per cent stake in listed company Thyrocare.
The amount spent for the treatment of COVID-19 will not be taxed, the amount received in Ex-Gratia will also be exempted
Founder of Thyrocare will also buy stake in API
A Velumani will also buy less than 5 per cent stake in API under equity investment on behalf of existing and new investors of the company. Lack of succession plan in Thyrocare could be the main reason for Dr. Velumani to sell the company. Earlier PharmEasy had bought Medlife and after that it became the largest medicine delivery company in the country. Thyrocare has a network of diagnostic centers across the country. The share price of the company has gained about Rs 300 this month. Shares of Thyrocare closed 6.23 per cent higher at Rs 1,448.05 on the BSE on Friday.
Recently, there has been a round of acquisitions in digital healthcare companies. Reliance Industries has acquired Netmeds, foraying into the online pharmacy segment. Whereas FarmEasy has merged with Medlife. In the e-commerce segment, Tata Group competes with giants like Flipkart, Amazon and Reliance Retail. In the future also, many merger and acquisition deals can be seen in this sector. Many big retail companies can jump into this area.
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