Digital healthcare company Pharmeasy on Friday announced that it will acquire a controlling stake in diagnostic chain Thyrocare for Rs 4,546 crore. Unicorn Pharma’s parent API Holdings and Thyrocare Technologies Chairman and Managing Director A Velumani have signed a definitive agreement for the deal.
As part of the transaction, the Delhi-based company will buy 66.1 per cent stake in Thyrocare from Velumani and its associates at Rs 1,300 per share, according to a statement. The transaction, which is significant as a strong player is being acquired by a startup, a subsidiary of API will also make an open offer to acquire an additional 26 per cent stake in listed Thyrocare, the statement said.
Velumani will separately acquire a non-controlling stake of less than 5 per cent in API as part of a series of equity investments by existing and new investors of API. Shares of Thyrocare on Friday closed 6.23 per cent higher at Rs 1,448.05 on the BSE.
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