Bengaluru-based conglomerate healthcare provider Aster DM Healthcare on Saturday announced that it has acquired 100 per cent stake in Warseps Healthcare LLP through its wholly-owned subsidiary companies.
In a regulatory filing, Aster DM Healthcare said its wholly-owned subsidiaries DM Med City (Hospitals) India Private Limited and Aster DM Healthcare (Trivandrum) Private Limited will hold 99 per cent and one percent ownership of Warseps Healthcare LLP respectively.
Warseps Healthcare is in the business of developing, manufacturing, trading and advising / assisting third parties for manufacturing various medical devices in various fields of medicine to address various diseases like diabetes, sepsis, etc.
“The target entity’s business supplements the main line of business of Aster DM Healthcare Limited. The target entity has Intellectual property rights of some ongoing research activities. Acquisition of the target entity will result in expansion of Aster DM Healthcare’s current healthcare service portfolio,” the Bengaluru-based healthcare provider said.
The acquisition, which comes at a cash consideration of Rs. 1 crore, is expected to complete on May 25, 2020.