Mumbai-based pharmaceuticals company Ipca Laboratories will complete the purchase of 4.03 per cent stake by April 30, 2021 in ABCD Technologies LLP (which will be renamed as IndoHealth Services LLP), stated the pharma company in its filing. The pharma company will be investing Rs 25 crore in ABCD Technologies.
Before Ipca Laboratories, drug majors Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma in March this year subscribed to partnership interest in healthcare services firm ABCD Technologies. The four pharma majors are investing Rs 40 crore each in ABCD Technologies which is a recently incorporated limited liability partnership and has not commenced any business activities.
Ipca Laboratories informed the exchange, “The target entity (ABCD Technologies) is a limited liability partnership that has various partners. The target entity will, through its investment entities, engage in the objective of digitising healthcare infrastructure in India.”
It is a cash infusion deal between Ipca Laboratories and ABCD Technologies.
The pharma company stated the objective of this association was to facilitate, enable and promote efficiency and Good Distribution Practices ('GOP') including digitising healthcare infrastructure in India, in support of the National Digital Health Mission of Government of India.
Meanwhile, ABCD Technologies has invested in DigiHealth Technologies LLP, Pharmarack Technologies Private Limited, Trikaal Mediinfotech Private Limited and AIOCD Pharmasofttech Awacs Private Limited, stated Ipca Laboratories in its filing to exchange.