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Sun Pharma, Lupin, 2 others invest in ABCD Technologies

Ruchika SharmaWritten by Ruchika Sharma   |  
Sun Pharma, Lupin, 2 others invest in ABCD Technologies
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New Delhi: Drug majors Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma on Thursday said they have subscribed to partnership interest in healthcare services firm ABCD Technologies LLP which will be renamed as IndoHealth Services LLP. The four pharma majors are investing Rs 40 crore each in the target entity which is a recently incorporated limited liability partnership and has...

New Delhi: Drug majors Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma on Thursday said they have subscribed to partnership interest in healthcare services firm ABCD Technologies LLP which will be renamed as IndoHealth Services LLP.

The four pharma majors are investing Rs 40 crore each in the target entity which is a recently incorporated limited liability partnership and has not commenced any business activities, they added.

Sun Pharma and Cadila Healthcare said one of the wholly owned Indian subsidiaries have subscribed to partnership interest in ABCD Technologies LLP.
The objective of the acquisition is 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 regulatory filings said.
The nature of consideration is cash infusion as capital contribution and Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma are investing Rs 40 crore each in the target entity, they added.
While Sun Pharma and Cadila Healthcare said that Rs 40 crore is for 20 per cent share of profit/ loss in the target entity, Lupin and Torrent Pharma said Rs 40 crore is for up to 20 per cent share of profit/loss in the target entity.

Read also: Sun Pharma, Dr Reddys, others eyeing to buy Oaknet Healthcare: Report



sun pharmalupincadila healthcaretorrent pharmaabcd technologies
Source : PTI
Ruchika Sharma
Ruchika Sharma

    M.Com

    Ruchika joined Medical Dialogue as an Desk Editor 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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