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PharmEasy in Advanced Talks to Acquire Thyrocare for Rs 7,000 crore: Report

Considering the IPO announcement of PharmEasy’s parent company API Holdings, the deal is likely to be announced soon, the report mentioned

Considering the IPO announcement of PharmEasy’s parent company API Holdings, the deal is likely to be announced soon, the report mentioned

The lack of a succession plan at Thyrocare could be a key reason for the company’s founder, Dr A Velumani, to sell the company, the report mentioned.

PharmEasy, the popular medical store is in talks with to acquire diagnostics services chain Thyrocare. The deal is expected to be worth about Rs 7,000 crore, Moneycontrol reported.

Considering the IPO announcement of PharmEasy’s parent company API Holdings, the deal is likely to be announced soon, the report mentioned.

“The lack of a succession plan at Thyrocare could be a key reason for the company’s founder, Dr A Velumani, to sell the company at a time when valuations are rewarding. Thyrocare promoters are likely to sell a stake that is likely to trigger an open offer for shareholders of the company," the report said.

“API Holdings may have two listed companies after a deal for Thyrocare and the planned IPO. The deal structure in the works is addressing the existence of separate listed entities in the group," it added.

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Dr Velumani may even look at investing in API Holdings as part of the agreement, the report mentioned.

Thyrocare is a leading pan-India diagnostic chain, It conducts a range of medical diagnostic tests and profiles of tests. It had a market capitalisation of around Rs 3,300 crore on its debut.

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first published:June 17, 2021, 15:55 IST