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Indrayani Biotech-led arm acquires 51% stake in India Home Health Care

The company has paid a consideration of Rs52.96 lakh.

November 24, 2022 1:54 IST | India Infoline News Service
Indrayani Biotech Limited informed that its wholly-owned subsidiary M/S IBL Healthcare Limited has acquired a 51% stake in India Home Health Care Private Limited.

IBL Healthcare has acquired 52,970 equity shares of India Home Health Care. Consequently, it has become a subsidiary company of IBL Healthcare.

The company has paid a consideration of Rs52.96 lakh.

Orthopedic care, cancer care, critical care, neuro care, tracheostomy and ventilator care, palliative care, geriatric care, postsurgical care, and wellness services are all available at IHHCPL.

IHHCPL is quickly becoming a reliable partner for leading Clinical Research Organizations (CRO) conducting Clinical Trials in the United States and Europe, having already made significant inroads into this segment under the brand name Avatar.

Avatar expects to generate approximately US$ 6 million in revenue over the next 36 months, up from the current run rate of US$ 500 thousand.

IHHCPL plans to open a state-of-the-art assisted living centre in March 2023, with a goal of expanding to 1000 units within the next 24 months.

At around 1.59 PM, Indrayani Biotech was trading at Rs87.75 up by 0.06% from its previous closing of Rs87.70 on the BSE. The scrip touched intraday high and low of Rs89.80 and Rs85 respectively.

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