Pharmaceutical giant Sun Pharma on October 5 said that it will acquire approximately 37.76 percent stake in Ezerx Health Tech for Rs 28.69 crore. EzeRx is a non-invasive diagnostic and ancillary medical device company.
Additionally, the firm will also acquire an additional 4 percent stake in Agatsa Software Private Limited for Rs 4.5 crore, taking up its stake in the company to 30.13 percent post-closing of all the tranche, Sun Pharma said in a regulatory filing.
Agatsa is engaged in research, development and commercialisation of non-invasive medical devices in the diagnostic health segment by leveraging technology and R&D capabilities.
The acquisition of shares is to be completed by October 2023 for Ezerx and December 2023 for Agatsa, subject to the satisfactory completion of certain conditions, it added.
Meanwhile, shares of Sun Pharma on October 5 closed 0.29 percent higher at Rs 1,125 apiece on BSE.
Sun Pharma had on August 3 reported a 1.9 percent year-on-year (YoY) fall in its consolidated net profit at Rs 2,022.5 crore for the April-June quarter.
The Mumbai-based drugmaker also reported a 11 percent increase in consolidated revenue at Rs 11,941 crore from Rs 10,761.7 crore in the year-ago period. The Street had pegged revenue at Rs 11,606.5 crore.
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