Aster DM Healthcare entered into a share purchase agreement with Hindustan Drug House, a partnership firm which is in process of converting into a private limited company.
Aster DM Healthcare shall invest in 86% of the paid-up equity share capital of the converted private limited company. The cash transaction is worth Rs 16.70 crore and is expected to be completed within 75 days.
The company plans to expand business into the growing pharmaceutical distribution segment by establishing supply chain and distribution network to sell into channels such as retail pharmacies, online pharmacies, hospitals and clinics.
Hindustan Drug House is into whole-sale, supply and distribution of pharmaceutical products.
Aster DM Healthcare's consolidated net profit dropped 20.2% to Rs 116.72 crore on 4.8% rise in net sales to Rs 2,390.88 crore in Q4 March 2021 over Q4 March 2020.
Aster DM Healthcare operates in various segments of the healthcare industry, which include hospitals, clinics and retail pharmacies, and provides healthcare services to patients across economic segments in various gulf corporation council (GCC) states through its various brands, such as Aster, Medcare and Access.
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Shares of Aster DM Healthcare lost 0.61% to Rs 154.75 on BSE. The strip traded in the range of Rs 154.40 to Rs 157 so far.
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