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17-Apr2019

Cipla's arm to acquire 30% stake in Brandmed

Cipla's South Africa-based subsidiary--- Cipla Medpro will acquire 30 percent stake in the connected healthcare firm Brandmed (Pty) for an upfront cash consideration of ZAR 65 million (nearly Rs 32 crore).

The company will also pay certain milestone payment for the stake acquisition over a period of three years, subject to meeting agreed profit targets. This transaction will help to transition healthcare from being reactive to a proactive and real-time monitoring model that focuses on promoting wellness instead of managing illness.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company's portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.


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