Cipla Invests Rs 42 Cr in GoApptiv: Expanding Digital Healthcare Presence
Dec 15, 2023 12:40
Cipla invests Rs 42 crore in GoApptiv, increasing its stake to 22.99% and strengthening its digital healthcare presence in underserved areas of India.
Photograph: Danish Siddiqui/Reuters
New Delhi, Dec 15 (PTI) Drug maker Cipla on Friday said it will invest an additional Rs 42 crore in digital tech company GoApptiv Pvt Ltd.
With this, the company's total stake in GoApptiv will increase to 22.99 per cent on a fully diluted basis, Cipla said in a statement.
This is the drug firm's third investment in GoApptiv, which will be made in a combination of equity shares and compulsorily convertible preference shares, it added.
"Our long-standing partnership with GoApptiv has helped us increase penetration in underserved rural areas of India and address critical healthcare gaps where pharmaceutical coverage is limited," Cipla MD and Global CEO Umang Vohra said.
In this era of technology-driven healthcare, the investment will help the company deliver patient-centric solutions and further strengthen digitisation agenda to drive next phase of growth, he added.
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