Reliance Industries, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), has acquired the oncology-focused healthcare platform Karkinos Healthcare for ₹375 crore.
Incorporated in July 2020, Karkinos Healthcare is an oncology-focused healthcare platform that specializes in early cancer detection and treatment using technology-driven solutions.
Here are some key details about the acquisition:
- Date of Acquisition: The acquisition was completed on December 27, 2024.
- Nature of Business: Karkinos specializes in early cancer detection and treatment using technology-driven solutions.
- Turnover: Karkinos reported a turnover of ₹22 crore for the fiscal year 2022-23.
- Investors: Prominent past investors included Tata Sons, Reliance Digital Health Ltd, Mayo Clinic, Sundar Raman, and Ravi Kant.
- Resolution Plan: The resolution plan for Karkinos was approved by the National Company Law Tribunal (NCLT), Mumbai Bench, without requiring additional regulatory approvals.
Karkinos is setting up a 150-bed multispecialty cancer hospital in Imphal, Manipur.
The acquisition aims to expand Reliance's health services business portfolio and enhance its capabilities in cancer care.
To recall, earlier this month, Infosys has acquired a 20% minority stake in the healthcare deep-tech startup 4baseCare, for Rs 8.3 crore,which too is focused on developing oncology solutions.
In this month only, Bengaluru-based HealthCare Global Enterprises Limited (HCG), one of the largest cancer care networks in India, and consulting giant Accenture have announced a collaboration to accelerate cancer research and care using advanced AI technologies, including generative AI and deep learning on multi-dimensional and multi-omic patient data.
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