M&A

M&A

Apollo Health picks up controlling stake in Lucknow-based Care Diagnostics

Economic Times  

Hyderabad-based Apollo Health & Lifestyle Limited (AHLL) has acquired a controlling stake in Lucknow-based Care Diagnostics in an all cash deal. This transaction involves the sale of a majority stake, structured with a path to a full 100% acquisition. Advay Capital Advisors advised the Care promoters on the transaction.Care Diagnostics, established in 2006, operates a main centre in Lucknow and collection centres at other places. Apollo’s investment will enhance its capabilities and speed up its expansion across Uttar Pradesh.A subsidiary of Apollo Hospitals Enterprise, Apollo Health & Lifestyle runs Apollo Clinics and Apollo Diagnostics in India and the Middle East.