Shardul Amarchand Mangaldas & Co has advised Apollo Hospitals Enterprise Limited (AHEL) and Apollo Healthco in a multi-phase transaction involving global private equity investor Advent International and pharmaceutical distributor Keimed.
The transaction involves Advent International investing INR24.75 billion (USD297.33 million) into Apollo Healthco, which operates the Apollo 24/7 app that provides healthcare. Apollo 24/7 will then acquire a minority stake in Keimed for INR7.25 billion, which will lead to a merger between the companies. Once completed, the combined entity will be valued at INR224.8 billion.
Partners Puja Sondhi and Aayush Kapoor led the Shardul Amarchand transaction team, with the assistance of principal associates Roma Das and Prerna Saroha, and associate Harjas Singh. Members of the competition team also assisted.
Cyril Amarchand Mangaldas in Mumbai advised Advent, while AZB & Partners in Chennai provided legal advice to AHEL and its board of directors.
This multi-phased transaction will result in the establishment of a leading integrated, omni-channel healthcare ecosystem across India, unlocking significant business synergies.
Completion of the deal is subject to customary conditions, including approval from the Competition Commission of India and the public shareholders of AHEL.
