Piramal Enterprises (PEL) has decided to acquire a majority stake in Health SuperHiway, a healthcare analytics company owned by the Apollo Hospitals’ promoter family. The transaction, to be done in two tranches of investment, strengthens PEL’s footprint in the global healthcare information business.
The company has invested Rs 60 lakh in cash, making it a minority shareholder in HealthHiway. It will invest an additional Rs 44.2 crore in the next 33 months provided HealthHiway achieves a set of specified growth milestones that are based on acquisition of hospital data partnerships.
With the investment of the second tranche of funds, the company will control a majority stake in the business, become the promoter and assume operational control.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
