M&A

M&A

Diagnostic chain Thyrocare to sell Nueclear Healthcare to Trovera for Rs.141-Cr, exit radiology

BSE Announcement   Inc42  

Publicly-listed, Navi Mumbai-headquartered diagnostic chain Thyrocare Technologies is to sell its entire stake in its wholly owned subsidiary, Nueclear Healthcare, to Mumbai-based Trovera Healthcare for about INR 141.4 Cr.The transaction will be structured as a cash-and-stock deal, with Thyrocare transferring 1.11 Cr equity shares, representing 100% of Nueclear Healthcare’s issued and paid-up equity share capital, to the acquirer. Trovera would pay INR.81.9 Cr in cash and allot 42,500 compulsorily convertible preference shares (CCPS) valued at INR.59.5 Cr to Thyrocare.Nueclear Healthcare, founded by Dr. Prince Surana of the Surana Group of Hospitals, operates in the healthcare and diagnostic-services sector. With this move, Thyrocare would exit the radiology and diagnostic-imaging business.In a related development, Thyrocare’s board has approved the purchase of land and buildings located in Gurugram and Hyderabad from Nueclear Healthcare for INR 20.59 Cr. Thyrocare currently uses these properties for its diagnostic laboratory operations.

For FY25, Nueclear Healthcare had reported about INR 47.59 Cr in Operating Income and about INR 0.05 Cr in PAT.