BPL has received an approval for transfer of company’s Health Care Business Group (HCBG) as a going concern on slump sale basis to BPL Medical Technologies (BMTPL) for a consideration of around Rs 21 crore, which was settled by BMTPL, by way of allotment fully paid up 2,10,50,000 equity shares of Rs 10 each, at par of BMTPL as consideration other than cash. Accordingly, BPL holds 48% stake in the equity share capital of BMTPL. The board of director at its meeting held on November 14, 2013 has approved for the same.
Established in 1963, BPL started manufacturing precision electrical instrumentation and diversified into medical devices in 1967. Over its 46-year history, BPL has developed a strong brand, an attractive product portfolio and a robust distribution and service network for the medical device business.
