Sun Pharma announces acquisition of ownership interest in Pharmarack Technologies

Sun Pharmaceutical Industries announced that DigiHealth Technologies LLP, the wholly owned entity of its Indian wholly owned subsidiary's investee entity i.e. ABCD Technologies LLP (to be renamed as IndoHealth Services LLP), has agreed to acquire 100% ownership interest in Pharmarack Technologies in tranches.

The upfront acquisition of 91.8% of shareholding in Pharmarack is expected to be completed within a period of 30 (thirty) days by purchase of shares from multiple existing shareholders in various lots.

The remaining 8.2% of the shareholding in Pharmarack is likely to be acquired in multiple tranches over the next 5 (five) years.

Cost of acquisition to DigiHealth Technologies LLP for upfront acquisition of 91.8% is Rs 111 crore.

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