New Delhi: Apollo Group entities have sought the Competition Commission of India’s (CCI) approval for a composite restructuring plan that would eventually lead to the separate listing of the group’s omnichannel pharmacy and digital health businesses within 18-21 months.
The proposal involves the demerger of omnichannel pharmacy distribution, Apollo 24|7 digital platform and remote telehealth division of Apollo Hospitals Enterprise (AHEL) into a new company-Apollo Healthtech (AHTL).
Subsequently, Keimed, another group entity that focusses on wholesale pharmacy business, will be merged into this new company. This will create a formidable listed omnichannel pharmacy distribution and digital health platform leader in India with ₹16,300 crore in revenues in FY25, AHEL had said in June. This combined entity was proposed to be listed in 18-21 months.
According to the filing of the group entities with the antitrust regulator dated July 30, the new company will then acquire 74.5 per cent shareholding of Apollo Medicals (AMPL) from existing shareholders in accordance with the applicable regulatory framework and a share purchase agreement already executed for this purpose.
Manipal seeks nod too
Separately, Manipal Hospitals, an arm of Manipal Health Enterprises, has sought the CCI clearance to acquire 100% of Sahyadri Hospitals in multiple tranches, according to a separate filing with the regulator dated July 30.
