Pharmeasay to acquire 66.1% stake in Thyrocare

API Holdings, the parent co. of digital healthcare brand, PharmEasy has reported the marking of conclusive archives to procure 66.1% stake in Thyrocare Technologies from Dr. A Velumani and members at a cost of INR 1,300 per share aggregating to INR 4,546 crs.

The transaction is subject to regulatory and other applicable customary approvals. Docon Technologies, a 100 percent subsidiary of API, will be the acquirer and will make an open proposal for an extra 26 percent stake.

Velumani will be separately acquiring a minority non-controlling stake of under 5% in API as a part of a series of equity investments by existing and new investors of API.

The collaboration between PharmEasy and Thyrocare is transformative for the Indian medical services sector, consumers and the whole health care ecosystem. The cost-effective diagnostics solution proividers will rethink and speed up the delivery of great indicative and OPD services across the full continuum of patient care to almost 800 mn Indians.