Mukesh Ambani-led Reliance Industries on Saturday said it has acquired technology-operated healthcare platform Karkinos, which provides oncology services, for Rs 375 crore. Reliance Strategic Business Ventures Limited (RSBVL) has completed the acquisition of Karkinos Healthcare Private Limited with the allotment of requisite shares, Reliance said in a stock exchange filing.
Karkinos is known for providing innovative technology-driven solutions for early detection/diagnosis of cancer. The company had a turnover of around Rs 22 crore in the financial year 2022-23. Karkinos, while remaining a profitable company, focuses on early detection and effective treatment of cancer. Karkinos has partnerships with several hospitals to provide oncology services (testing, radiation therapy, etc.). The company has partnerships with around 60 hospitals as of December 2023.
Reliance said in its filing that the acquisition of Karkinos will also help in expanding the healthcare business portfolio of the Reliance Group. The National Company Law Tribunal (NCLT), Mumbai bench, said that the transaction does not require any additional government or regulatory approvals.
