Reliance Industries has acquired healthcare platform Karkinos. The deal has been done for Rs 375 crore. Reliance-owned Reliance Strategic Business Venture (RSBVL) has acquired Karkinos Healthcare Limited. The company gave this information in an exchange filing on Saturday.
According to the filing, RSBVL has bought 10 million (1 crore) equity shares of Karkinos at Rs 10 per share for a cash payment of Rs 10 crore. While 365 million fully convertible debentures at Rs 10 per share have been bought for a cash payment of Rs 365 crore.
Karkinos did a business of ₹22 crore
Karkinos was launched on July 24, 2020. The technology-driven and oncology-centric platform works to detect, diagnose and manage early stage cancer in India. In the financial year 2022-23, the company had a turnover of around Rs 22 crore.
Reliance Digital Health buys 45% shares
Last week on December 20, another Reliance-owned company ‘Reliance Digital Health’ bought 45% shares in ‘Health Alliance Group Inc’ (HAGI). The deal was done for $10 million (about Rs 85 crore). The US-based healthcare company was formed on 21 December 2023. The company provides technology-driven solutions for underprivileged people in the US, India and the rest of the world. HAGI also works for the health sector, information technology and innovation.
Earlier in November, Disney Star India and Reliance’s Viacom-18 merged. This also includes Disney Hotstar and Jio Cinema. Both these companies announced this on Thursday, November 14. After this merger, it has become the country’s largest entertainment network.
Disney-Reliance Entertainment now has 75 crore viewers with 2 Over the Top (OTT) and 120 channels. Reliance has invested Rs 11,500 crore for this joint venture. The merger process was going on for the last one year.
