Alkem Labs invests in healthcare services firm ABCD Technologies , Health News, ET HealthWorld


Alkem Labs invests in healthcare services firm ABCD Technologies New Delhi: Alkem Laboratories on Tuesday said it has agreed to subscribe to a partnership interest in healthcare services firm ABCD Technologies LLP which is to be renamed as IndoHealth Services LLP. The company is investing Rs 40 crore in the target entity which is a recently incorporated limited liability partnership (LLP) and has not commenced any business activities, Alkem Labs said in a filing to BSE.

The objective of the acquisition is to digitise healthcare infrastructure in India towards facilitating good distribution practices in support of the National Digital Health Mission, it added.

The nature of consideration is cash infusion as capital contribution for acquiring up to 20 per cent share of profit/ loss in the target entity, Alkem Labs said.

The indicative time period for completion of the acquisition is on or before March 31, 2021, it added.

Last week, Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma had said that they have subscribed to partnership interest in ABCD Technologies LLP.

Shares of Alkem Laboratories were trading at Rs 2,706.10 per scrip on BSE, up 2.15 per cent from its previous close.

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