Kalpathi Investments and Primex Group today said Vedanta Group's Agnivesh Agarwal has picked up a controlling stake in Primex Healthcare and will be on its board as the Executive Director.
"Agnivesh Agarwal has picked up a 60% stake in Primex Healthcare that operates health care centres in Chennai," Kalpathi and Primex said in a joint statement.
Agarwal is the Chairman of Hindustan Zinc Ltd, a group company of diversified natural resources firm Vedanta.
Primex Group Founder and CEO Anand Mahadevan said: "We believe that the strategic investment from Vedanta Group's founding member will allow us to jointly set up and expand aggressively the growing network of our healthcare centres."
Kalpathi Investments and the promoter family of Primex Group will now hold 15% each in Primex Healthcare, the statement said.
The company however did not disclose the financial details of the stake acquisition.
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The investment will provide Primex Healthcare access and capital strength for expansion and increased visibility, the statement said.
"We believe that we will be jointly able to establish a strong presence in the health care sector with steadfast commitment to quality and cost efficiency, delivering value to the society," Agarwal said on the development.
Primex Group also has 50 centres offering various diagnostic services across Tamil Nadu under its another company Primex Scans and Labs and is aiming to expand presence to other Southern states.