Healthcare Global Enterprises today announced execution of definitive agreements for the business combination of its unit Triesta Sciences with bio- informatics firm Strand Life Sciences Pvt Ltd.
The combination of Triesta and Strand creates an integrated platform with end-to-end capabilities in precision medicine, Healthcare Global Enterprises (HCG) said in a filing to BSE.
HCG Chairman and CEO B S Ajaikumar said: "Strand and Triesta have been working together in bioinformatics and clinical genomics. We are now excited to combine our strengths and resources towards redefining precision medicine."
Strand, a spin-off from the Indian Institute of Science, is the leader in genomic testing for cancer and inherited diseases in India , the filing said.
"Together we are well on the path to building Asia's leading integrated analytics driven diagnostic and genomics research company. Through this alliance we will work together to be at the forefront of precision medicine," Strand Founder and CEO Ramesh Hariharan said.
Shares of Healthcare Global Enterprises today closed 5.17 per cent higher at Rs 295 per scrip on BSE.
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