Reliance Digital Health Ltd to acquire 45% in Health Alliance Group Inc

Reliance Digital Health Limited ("RDHL"), a wholly owned subsidiary of Reliance Industries Limited, has on December 20, 2024 entered into definitive agreements to acquire 45% equity stake on a fully diluted basis in Health Alliance Group Inc. ("HAGI") for an aggregate consideration of USD 10 million.

HAGI is a US-based healthcare company incorporated on December 21, 2023 as a Delaware corporation. It specializes in designing technology driven solutions for the underserved in United States, India and rest of the world. HAGI operates at the intersection of healthcare, information technology and innovation.

The investment will empower RDHL to develop a virtual diagnostic and care platform, expanding access to healthcare for underserved communities.

The investment is not a related party transaction and none of the Company's promoter / promoter group / group companies have any interest in the above transaction.

The transaction is subject to customary closing conditions and is expected to be completed in around 2 weeks.

No governmental or regulatory approvals are required for the above transaction.

Shares of Reliance Industries Limited was last trading in BSE at Rs. 1206.00 as compared to the previous close of Rs. 1230.60. The total number of shares traded during the day was 1166317 in over 72547 trades.

The stock hit an intraday high of Rs. 1239.75 and intraday low of 1202.10. The net turnover during the day was Rs. 1424667275.00.

Source : Equity Bulls

Keywords

RelianceIndustries INE002A01018 RelianceDigitalHealth Acquisition HealthAllianceGroupInc