PVP Ventures Limited acquires majority stake in Biohygea Global Private Limited

PVP Ventures Ltd., ("PVP") executed binding agreements to acquire 52% stake in Biohygea Global Private Limited ("Medilab"/ "Company"). With this acquisition, PVP has made a significant stride in its earlier announced plans to build a global Healthcare Services platform focussing on Illness, Wellness and Care.

The transaction shall be a combination of both primary and secondary stake purchase for an initial shareholding of 52%. PVP will further increase its stake over the next few years through primary and secondary tranches.

Established in 2014, the Company operates under the brand name Medilabs and was founded by Dr Prakash, a trained radiologist and G Dillibabu, who comes with multiple years of experience in hospital and lab operations. The Company collaborates with local hospitals to setup labs within these partner hospitals. In addition, Medilabs also runs its own diagnostic centers with CT Imaging, Ultrasounds and a network of labs with a vast test menu exceeding 1500 tests. The clear focus of Medilabs going forward is to strengthen its presence in Tier 2 & Tier 3 cities and towns and establish itself as a differentiated diagnostics player in fetal medicine, genomics and oncology testing.

Arjun Ananth, CEO - PVP Ventures Ltd. said, "This transaction fills a critical service offering in our strategy of building a powerful house of brands in health care services focused on Tier 2 and Tier 3 markets. We welcome Medilab into the PVP fold and look forward to making them a differentiated and scaled diagnostics player in the near future"

Dr Prakash, Founder & CEO of Biohygea Global Pvt Ltd. said, "This partnership with PVP Ventures marks a pivotal step in scaling our mission to deliver high-quality, accessible diagnostics across Tier 2 and Tier 3 markets. With their strategic support, we aim to deepen our focus on advanced diagnostics like fetal medicine and genomics, while building a tech-enabled patient-first healthcare ecosystem."

PVP was represented by Peritum Partners.

Shares of PVP Ventures Limited was last trading in BSE at Rs. 28.31 as compared to the previous close of Rs. 27.38. The total number of shares traded during the day was 38731 in over 781 trades.

The stock hit an intraday high of Rs. 29.19 and intraday low of 27.00. The net turnover during the day was Rs. 1085881.00.

Source : Equity Bulls

Keywords

PVPVentures INE362A01016 RealEstate Residential Commercial StakeAcquisition BiohygeaGlobal Medilab