Entero Healthcare Solutions has received approval from board of directors to enter into binding Memorandum of Understanding for acquiring 80% stake in Anand Medical Distributors, proprietorship firm, subject to satisfactory completion of due diligence and execution of the definitive agreements.
The business of Anand Medical Distributors is in line of the business of the Company i.e. wholesale distribution of pharmaceutical and other allied products and the acquisition of business of Anand Medical Distributors by the Company shall enable the Company to generate additional business and revenue on a consolidated basis. The acquisition shall be completed by August 15, 2025.
Besides, the company’s board has approved the further acquisition of 8000 equity shares of face value Rs 100 each, representing 16% of the total issued and paid-up equity share capital of Peerless Biotech (PBPL) from the existing minority shareholders. Post this acquisition, the stake of the Company in PBPL will increase from 60% to 76%.
PBPL is engaged in the business of manufacturing, marketing and distribution of medical devices, diagnostic reagents, in-vitro diagnostic equipment and consumables, home healthcare products, point of care testing and other allied products.
Entero Healthcare Solutions is a distributor of healthcare products in India. The company's technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.
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