Reliance bought healthcare company Karkinos: deal signed for ₹ 375 crore, the company works in detection and diagnosis of cancer.

Reliance Industries has acquired healthcare platform Karkinos. This deal has been done for Rs 375 crore. Reliance-owned Reliance Strategic Business Venture (RSBVL) has purchased Karkinos Healthcare Ltd. The company gave this information in its exchange filing on Saturday.

According to the filing, RSBVL has purchased 10 million (1 crore) equity shares of Karkinos at Rs 10 per share for a cash payment of Rs 10 crore. Whereas 365 million fully convertible debentures at the rate of Rs 10 have been purchased for a cash payment of Rs 365 crore.

Karkinos did business of ₹22 crore in FY23

Karkinos was launched on July 24, 2020. The technology-driven and oncology-centric platform focuses on early detection, diagnosis and management of cancer in India. In the financial year 2022-23, the company had done a turnover of about Rs 22 crore.

Reliance Digital Health buys 45% stake in HAGI

Last week, on December 20, another Reliance-owned company ‘Reliance Digital Health’ had purchased 45% shares in ‘Health Alliance Group Inc’ (HAGI). This deal was done for 10 million dollars (about Rs 85 crore).

America based healthcare company was formed on 21 December 2023. The company provides technology-driven solutions to underprivileged people in the US, India and the rest of the world. HAGI also works for the health sector, information technology and innovation.