As a part of its restructuring exercise, Apollo Hospitals has divested its front-end pharmacy business to Apollo Pharmacy for a lump sum cash consideration of Rs 527.8 crores..Apollo Pharmacy will be a wholly owned subsidiary of Apollo Medicals. The listed parent company, Apollo Hospitals will hold 25.5% stake in Apollo Medicals and the remaining 74.5 % will be held by investors, including Jhelum Investment Fund, Hemendra Kothari and ENAM Securities..L&L Partners acted for Apollo Hospitals and the team was led by Partners Sundeep Dudeja and Vaibhav Kakkar along with Managing Associates Prashant Shah and Avisha Gupta, Senior Associate Sahil Arora and Associates Ritvika Thakur, Keshav Pareek and Bhavini Singh..Argus Partners acted for Jhelum Investment Fund and the team was led by Partner Adity Chaudhary along with associates Deeya Ray, Riya Dutta and Kshitija Naik..Apollo Pharmacies will focus on building a multi-year growth platform for the stand-alone pharmacies business to get to a medium-term target of over 5,000 pharmacy outlets over five years with a goal of over Rs 10,000 crore in revenues, reported ET.
As a part of its restructuring exercise, Apollo Hospitals has divested its front-end pharmacy business to Apollo Pharmacy for a lump sum cash consideration of Rs 527.8 crores..Apollo Pharmacy will be a wholly owned subsidiary of Apollo Medicals. The listed parent company, Apollo Hospitals will hold 25.5% stake in Apollo Medicals and the remaining 74.5 % will be held by investors, including Jhelum Investment Fund, Hemendra Kothari and ENAM Securities..L&L Partners acted for Apollo Hospitals and the team was led by Partners Sundeep Dudeja and Vaibhav Kakkar along with Managing Associates Prashant Shah and Avisha Gupta, Senior Associate Sahil Arora and Associates Ritvika Thakur, Keshav Pareek and Bhavini Singh..Argus Partners acted for Jhelum Investment Fund and the team was led by Partner Adity Chaudhary along with associates Deeya Ray, Riya Dutta and Kshitija Naik..Apollo Pharmacies will focus on building a multi-year growth platform for the stand-alone pharmacies business to get to a medium-term target of over 5,000 pharmacy outlets over five years with a goal of over Rs 10,000 crore in revenues, reported ET.