Apollo Hospitals Enterprise Limited announced a significant acquisition by its material subsidiary, Apollo Healthco Limited (AHL). AHL is acquiring the operational business and intellectual property of Searchlight Health Private Limited (SHPL) for a lump sum consideration of ₹67.50 crore. This business transfer will include software operations such as Personal Health Record (PHR), Health Information Exchange (HIE), and Clinical Cloud (CIE), among others.
Key Details:
- Acquisition Date: Agreement executed on December 24, 2024.
- Completion Timeline: Expected by February 28, 2025.
- Transaction Structure: ‘Going concern’ and ‘slump sale’ basis.
- Purpose: Enhance Apollo’s digital health capabilities and integrate advanced health tech solutions.
Financial and Operational Impact:
- Valuation: The deal was valued by BDO India LLP.
- Integration: All assets, employees, and contracts associated with SHPL will be transitioned to AHL.
- Strategic Importance: This acquisition strengthens Apollo’s digital health ecosystem and aligns with its broader strategy to leverage technology in improving healthcare services.
Apollo Hospitals emphasized that this acquisition falls under related-party transactions, conducted on an arm’s length basis, with approval from relevant boards and audit committees. This move underscores Apollo’s commitment to advancing its position in healthcare technology innovation.
