IBL Healthcare Ltd acquires 51% stake in Healthway India Pvt Ltd

IBL Healthcare Limited, a wholly owned subsidiary of Indrayani Biotech Limited has acquired 5,10,000 equity shares, constituting 51% of total no of equity shares, of M/S Healthway India Private Limited ("HIPL") (CIN: U74900TN2013PTC091433). Thus, HIPL has become a subsidiary company of IBL Healthcare Limited.

Healthway India Private Limited ("Healthway") was established in 2013 as a Health and Wellness company with a vision of Healing Lives.

Healthway is a pharma and medical devices marketing company with its registered office at No.1 Milk Colony Road, Madhavaram Chennai, 600060, under the management of Mr. S. Madhavan.

Healthway is marketing branded medicines and medical devices through ethical promotion to medical practitioners, Nursing Homes, clinics and leading corporate hospitals.

Healthway has over 400 distributors and wholesalers all over South India catering to 20,000 clinics, nursing homes, corporate hospitals and pharmacies with a turnover of INR 45.5 million during FY 21-22.

Healthway's R&D establishment has assisted the development & Marketing of Onco Nutrition products (CELNORM), Ayurvedic Arthritis Liniment (ARLIN), GI - remedy for diarrhea (Loparet), Herbal cough syrup (HERCOF) and a unique delivery of Paracetamol, ready for the market.

The aggregation with IBL Healthcare Limited will enable and expand capability to Research, launch and market Products under the brand name "Healthway" in Allopathy, Ayurveda and Nutraceuticals domains. The subsidiary will use the facilities and factory of associated Pharma manufacturing Companies with 40 years expertise in manufacturing quality medicines. The company is poised to assist medical practitioners with Quality Medicines, enable them heal millions of patients and reach a turnover of INR 300 million in the next two years.

Shares of INDRAYANI BIOTECH LTD. was last trading in BSE at Rs. 93.15 as compared to the previous close of Rs. 93.95. The total number of shares traded during the day was 21117 in over 108 trades.

The stock hit an intraday high of Rs. 95.15 and intraday low of 92.50. The net turnover during the day was Rs. 1982284.00.

Source : Equity Bulls

Keywords

INDRAYANIBIOTECH INE007C01021 IBLHealthcare Acquisition HealthwayIndia