Reliance acquires Karkinos Healthcare for Rs 375 Crore

New Delhi: Reliance Industries has acquired technology-driven and oncology-focused healthcare platform Karkinos for Rs. 375 crore.

Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Mumbai-listed India’s most valuable company, completed the acquisition of Karkinos Healthcare with allotment of requisite shares, the firm said in a stock exchange filing. Karkinos was incorporated in India on July 24, 2020 and is in the business of providing technology-driven, innovative solutions for the early detection, diagnosis, and management of cancer.

The turnover of Karkinos for FY 2023, FY 2022, FY 2021 was Rs. 21.911 crore, Rs. 0.918 crore, and Rs. 0.004 crore, respectively. The acquisition of Karkinos will help expand the health services business portfolio of Reliance group.

The resolution plan has been approved by the National Company Law Tribunal, Mumbai Bench, and no further governmental/regulatory approval was required for the above transaction.