Hetero Group exits pharmacy retailing; Sales biz to Apollo Hospitals
Acquisition will help Apollo Pharmacy to consolidate its operations in the three states - Telengana, Andhra Pradesh and Tamil Nadu
BS B2B Bureau B2B Connect | Chennai
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“The acquisition would be in the form of purchase of the business undertaking, on a slump sale basis, subject to completion of due diligence and other statutory formalities,” said Apollo Hospitals in a press release.
Currently, Apollo Pharmacy is the largest organised pharmacy chain in the country and the acquisition would help it to cement the position along with consolidating its operations in the three States. At present there are about 1680 Apollo pharmacies across the country.
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First Published: Sep 19 2014 | 5:20 PM IST