Adani Enterprises (AEL) is marking its advancement in the healthcare business by setting up a wholly owned subsidiary, Adani Health Ventures (AHVL), which will begin operations in due course.
AHVL will have an initial authorized and paid up share capital of Rs.100,000 (Rs.1 lakh) and will set up diagnostic facilities, health care, health-technology based facilities and research centers. The firm will also be present at other associate and ancillary activities, AEL said in a regulatory update.
Further details of its healthcare plan have not been released.
It comes close to the heels of the cement business firm’s recent campaign with the acquisition of Indian subsidiaries of the Switzerland-based Holsim Group. Earlier on Sunday, the Adani family signed a definitive agreement to acquire a full stake in Ambuja Cements and Holsim in ACC for about .5 10.5 billion.
On May 13, AMG Media Network, an AEL entity, entered into an agreement to acquire a 49% stake in Quantum Business Media (QBM), a Raghav Bahl-curated digital business news platform for an undisclosed amount. It follows a share purchase agreement from AEL in March, under which it acquired an indefinite minority stake in QBML.
In September 2021, Adani Group hired veteran journalist Sanjay Pugalia to lead its media company, Adani Media Ventures.
India’s healthcare industry has been growing at an annual rate of about 22% since 2016 and is expected to reach 2 372 billion by 2022, according to a report by the Policy Commission. According to estimates by the National Skill Development Corporation, healthcare could create 2.7 million additional jobs in India between 2017-22, adding more than 500,000 new jobs each year.
According to data compiled by Bloomberg News, Adani Group is in the process of acquiring one acquisition and bought 32 acquisitions worth about 17 17 billion last year. On Tuesday, international holding company PJSC, an Abu Dhabi-based investment firm, said it had invested Rs 15,400 crore ($ 2 billion) in three Adani portfolio companies, Adani Green Energy, Adani Transmission and Adani Enterprise.