CCI clears HealthFore-Oscar Investments deal

The Competition Commission has approved the proposed merger of healthcare IT solutions provider HealthFore Technologies with Oscar Investments.
In December last year, HealthFore Technologies had announced its merger with Oscar Investments.
The "amalgamation of HealthFore Tech Ltd and Oscar Investments Ltd" has been approved, the Competition Commission of India (CCI) said in a tweet today.
As per the scheme of amalgamation, shareholders of HealthFore Technologies will receive three shares of Oscar Investments for every 20 shares held in HealthFore.
"The amalgamation will provide HealthFore access to assets, a stronger capital base and talent pool generated by the merged business which can be deployed more efficiently to drive sustainable organic and inorganic growth, creating long-term value for the shareholders and other stakeholders of the combined entity," HealthFore had said in December.

Oscar Investments is a non-banking finance company, which is into the business of promoting companies engaged in industrial and trading business, among others.