M&A

M&A

Apollo Hospitals launches healthcare platform with slump sale of 4 entities

BSE Disclosure  

Chennai-based, publicly-listed Apollo Hospitals has created an omni-channel healthcare platform called ‘Apollo HealthCo' by merging its online and offline pharmacies and telemedicine businesses through a slump sale of four entities. The four entities are its back-end offline pharmacy business (excluding hospital-based pharmacies); digital healthcare platform Apollo 24/7; investment in retail pharmacy business (Apollo Medicals Pvt Ltd); and the Apollo 24/7 brand, the Apollo Pharmacy brand and private label brands. These entities have been transferred into the group's newly formed 100% subsidiary, Apollo HealthCo Ltd. The promoter/promoter group of Apollo Hospitals holds 71.43% of the paid up share capital of Apollo HealthCo. It has made an equity investment of INR 7 lakh in the new entity.