New Delhi: Sun Pharma disclosed on October 5 that it will acquire an estimated 37.76 percent stake in Ezerx Health Tech for Rs 28.69 crore via an intimidation to the NSE. Ezerx is a company specialising in non-invasive diagnostic and ancillary medical devices.
In addition to this, Sun Pharma will also acquire an additional 4 percent stake in Agatsa Software Private Limited for Rs 4.5 crore, Sun Pharma said in a regulatory filing. This will bring Sun Pharma’s stake in Agatsa to 30.13 percent once all the transactions are completed.
Agatsa is involved in the research, development, and commercialisation of non-invasive medical devices in the diagnostic health segment, utilising technology and R&D capabilities.
The purchase of sh ares is expected to be finalised by October 2023 for Ezerx and by December 2023 for Agatsa, after the satisfactory fulfilment of certain conditions.
On October 5, Sun Pharma’s stock closed at Rs 1,125 per share on the BSE, marking a 0.29 percent increase.
Earlier, on August 3, Sun Pharma reported a decrease in its year-on-year (YoY) consolidated net profit by 1.9 percent, which stood at Rs 2,022.5 crore for the April-June quarter. However, the company saw an 11 percent increase in consolidated revenue, reaching Rs 11,941 crore from Rs 10,761.7 crore in the same period the previous year. Analysts had estimated revenue to be around Rs 11,606.5 crore.
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