This FMCG company embarks on global expansion with acquisitions in healthcare

FMCG institution Evexia Lifecare is readying planetary enlargement with the acquisition of a 51 per cent involvement successful a diagnostics institution Vittal's MediCare Private Limited of the United Arab Emirates. The acquisition is valued astatine Rs 35 crores, post- effect it volition effect successful Vittal's MediCare becoming a subsidiary of Evexia Lifecare. 

"The determination aligns with the company's strategical imaginativeness to fortify its presumption successful diagnostics, which complements its halfway operations successful manufacturing and trading of pharmaceuticals, chemicals, and lifecare products," the institution said successful a release.

Meanwhile, Vittal's MediCare Private Limited recorded revenues of Rs 25.7 crores successful FY 2020-21, Rs 66.3 crores successful FY 2021-22, and Rs 38.5 crores successful FY 2022-23.  

Simultaneously, Evexia Lifecare's wholly-owned subsidiary, Evexia Lifecare Africa Limited, has signed a historical statement to put successful 10 UAE-based Limited Liability Companies (LLCs). These LLCs person a combined income of Rs 278.8 crores for the fiscal twelvemonth 2022-2023, and they specialize successful aesculapian diagnostics and healthcare services.

The concern amounting to Rs 190 crores (AED 8.3 crores), volition let Evexia Lifecare Africa to get a 51 per cent involvement successful a recently formed Special Purpose Vehicle (SPV). This SPV volition consolidate the operations of the 10 LLCs, giving Evexia power implicit a large healthcare radical successful the UAE. The remaining 49 per cent volition beryllium held by the existing partners of the LLCs.