Pharmeasy to buy Thyrocare

Mumbai, June 25

Digital healthcare company Pharmeasy on Friday announced that it will acquire a controlling stake in diagnostic chain Thyrocare for Rs 4,546 crore. API Holdings, the parent of the unicorn Pharmeasy, and A Velumani, chairman and managing director of Thyrocare Technologies, have signed a definitive agreement for the deal.

Under the transaction, the Delhi-based company will buy 66.1% stake in Thyrocare from Velumani and his affiliates at Rs 1,300 per share, according to a statement.

The transaction, which is significant because an entrenched player is getting acquired by a startup, will also see a subsidiary of API making an open offer to acquire an additional 26% stake in the listed Thyrocare, the statement said. — PTI

Rs 4,546-crore deal

• API Holdings, the parent of the Pharmeasy, and A Velumani, CMD of Thyrocare Technologies, have signed a definitive agreement for the deal
• Under the transaction, the Delhi-based company will buy 66.1% stake in Thyrocare from Velumani and his affiliates at Rs 1,300 per share