ANG Lifesciences soars 5% after board announces plan to invest in ANG Healthcare India

The acquisition will help company in its brand-building, domestic branding and direct marketing initiative for the purposes of staying close to the customer.

Nov 24, 2021 02:11 IST India Infoline News Service

ANG Lifesciences Ltd has informed that the Company’s Board of Directors on November 23,2021 has decided to invest in the equity shares of ANG Healthcare India Private Limited.

Therefore consequent to the acquisition of 100% Equity stake by the company, ANG Healthcare India Private Limited will become Wholly-Owned Subsidiary Company of ANG Lifesciences India Limited.

ANG Healthcare India Private Limited is a marketing company selling critical care products to Hospitals and Nursing Homes in therapeutic segments of anti-biotic, anti-infective, anti-malarial, pain management etc.

The company has got presence all over India through a network of Super Stockists and 150 Stockists along with a strong sales force of about 60 personnel and expanding at a fast pace.

The acquisition will help company in its brand-building, domestic branding and direct marketing initiative for the purposes of staying close to the customer and to serve its vision of providing innovative and high quality products at affordable prices all across the country following ethical business practices.

Cost of acquisition is approximately Rs4cr consisting of Equity Share Capital for 100% stake.

On Wednesday, at around 2:41 PM, ANG Lifesciences was trading at Rs521.65 per piece higher by 4.99% on Sensex.

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