After signing deals with two cement companies, the Adani Group is now preparing to enter the health care business. It has also established a new company. Adani Enterprises (AEL) will undertake the health related business under Adani Health Ventures (AHVL). All health related products will be sold under this company.
AHVL will have an initial authorized and paid-up share capital of Rs 100,000 (Rs 1 lakh). Clinical facilities, health support, health-technology based facilities and research centers will be set up under the company. Adani Enterprises said in a regulatory update that the firm will also have a presence in other allied and incidental activities. However, not much information has been given about its health care plans.
Significantly, the Adani firm has recently forayed into the cement sector, having acquired Switzerland-based Holcim Group’s Indian subsidiaries ACC and Ambuja. On Sunday, the Adani Group acquired Holcim’s entire stake in Ambuja Cements and ACC for about $10.5 billion.
49 percent stake in this company
On May 13, AEL entity, MMG Media Networks, has bought a 49% stake in Raghav Behl-curated digital business news platform Quintillion Business Media (QBM) for an undisclosed amount. After this, now she is stepping into health care.
Why do you want to enter the health care business?
According to a NITI Aayog report, India’s healthcare industry has been growing at an annual rate of about 22 per cent since 2016 and is expected to reach $372 billion in 2022. In such a situation, there is more chance of profit in the health sector. According to estimates by the National Skill Development Corporation, healthcare could create an additional 2.7 million jobs in India between 2017-22.
Acquisitions of 32 companies worth $17 billion in one year
According to Bloomberg data, Adani Group is rapidly acquiring companies. It has acquired 32 companies valued at about $17 billion in the past year.