IPO-bound PharmEasy buys Thyrocare; is it worth the price and what does this mean for diagnostic sector?
In terms of one of the highest dealings in India's diagnostic sector, Phareasy on June 25 acquired a participation of 66.1 percent in ThyroCare Technologies Ltd (ThyroCare) for a RS 4,546 million rupees.
API Holdings Ltd (API), the parent company of Phareasy, announced the "Signature of definitive documents to acquire 66.1 percent participation in ThyroCare by DR A Velumani and affiliates at a price of RS 1,300 per share by adding RS 4,546 million rupees ", A statement official indicated.
The agreement was announced after the market hours on Friday. ThyroCare's shares rose 6.23 percent to terminate RS 1448.05 in BSE.
"We will provide a world-class customer experience in diagnostics, rival our pharmacy experience by taking advantage of technology and building on the massive scale and truly ...