PharmEasy to buy Thyrocare in Rs 6,334-crore deal

Online medical store PharmEasy has proposed to acquire diagnostics services chain Thyrocare Technologies in a deal worth Rs 6,334 crore.

API Holdings Ltd (API), the parent firm of PharmEasy, announced the signing of definitive documents to acquire 66.1 per cent stake in Thyrocare from A Velumani and affiliates at Rs 1,300 per share. This stake purchase is valued at Rs 4,546 crore. Besides, API will acquire an additional 26 per cent in Thyrocare via a mandatory open offer and is offering Rs 1,788 crore for the same.

Docon Technologies, a 100 per cent subsidiary of API — founded by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia and Siddharth Shah — will be the acquirer and will make an open offer for an additional 26 per cent stake.