Mukesh Ambani becomes owner of this company too, buys it for Rs 3750000000, it works for…

The firm informed in a stock exchange filing that Reliance strategy business Ventures concluded the acquisition of Karkinos Healthcare Pvt Ltd  with allotment of required shares.

Mukesh Ambani-led Reliance Industries Limited has acquired healthcare platform Karkinos for Rs 375 crore, the company asserted on December 28. 

The firm informed in a stock exchange filing that Reliance Strategy Business Ventures concluded the acquisition of Karkinos Healthcare Pvt Ltd  with allotment of required shares.

Karkinos was integrated in India on July 24, 2020. The company offers technology-driven innovative solutions for the early detection, diagnosis, and management of cancer. Its turnover was about Rs 22 crore in the 2022-23 fiscal.

As per the stock filing, “Reliance Strategic Business Ventures Ltd has on December 27, 2024, subscribed to and has been allotted 1 crore equity shares of Rs 10 each, for cash, aggregating Rs 10 crore and 36.5 crore optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos.”

Karkinos said that it has cancelled the existing outstanding 30,075 equity shares held by the erstwhile shareholders of the company according to the approved resolution plan.

The company’s previous prominent investors included Ewart Investments Limited (100 per cent subsidiary of Tata Sons), Reliance Digital Health Ltd (a subsidiary of Reliance Industries), Mayo Clinic (US), Sundar Raman (Director at Reliance Foundation Youth Sports and former COO of Indian Premier League since 2008), and Ravi Kant (ex-MD of Tata Motors).

The company is engaged on providing end-to-end services relating to early detection and productive treatment of cancer at substantially lower than prevailing rates, while still generating healthy profitability.