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  • Alkem Labs to invest...

Alkem Labs to invest Rs 40 crore in ABCD Technologies

Ruchika SharmaWritten by Ruchika Sharma Published On 2021-03-30T15:54:54+05:30  |  Updated On 22 Nov 2021 10:41 PM IST
Alkem Labs to invest Rs 40 crore in ABCD Technologies
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New Delhi: Alkem Laboratories on Tuesday said it has agreed to subscribe to a partnership interest in healthcare services firm ABCD Technologies LLP which is to be renamed as IndoHealth Services LLP.

The company is investing Rs 40 crore in the target entity which is a recently incorporated limited liability partnership (LLP) and has not commenced any business activities, Alkem Labs said in a filing to BSE.

The objective of the acquisition is to digitise healthcare infrastructure in India towards facilitating good distribution practices in support of the National Digital Health Mission, it added.

The nature of consideration is cash infusion as capital contribution for acquiring up to 20 per cent share of profit/ loss in the target entity, Alkem Labs said.

Read also: Sun Pharma, Lupin, 2 others invest in ABCD Technologies

The indicative time period for completion of the acquisition is on or before March 31, 2021, it added.

Last week, Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma had said that they have subscribed to partnership interest in ABCD Technologies LLP.

Read also: Alkem Labs, Tata Memorial Hospital collaborate to set up cancer care facility in Bihar



alkem labsalkem labs newsabcd technologiesindohealth servicesinvestment
Source : PTI
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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