Apollo Hospitals Enterprise Ltd.

Apollo Hospitals Enterprise will be divesting its front end pharmacy business to Apollo Pharmacy for a lump sum cash consideration of Rs 527.80 crore as part of a restructuring exercise. This move is to segregate the front-end retail pharmacy business carried out in the standalone pharmacy segment into a separate company Apollo Pharmacy (APL).

APL will be a wholly-owned subsidiary of Apollo Medicals (AMPL) in which Apollo Hospitals Enterprise (AHEL) will have a 25.5 percent stake.

Apollo Hospitals Enterprise owns and operates chain of multi-specialty hospitals. It offers the services in the area of cardiology, cardiothoracic, orthopedics and joint replacement, spine surgery, oncology, etc.