Aster DM Healthcare acquires 100% stake in Warseps Healthcare LLP

Aster DM Healthcare Limited ('the Company') through its Wholly owned Subsidiary Companies, has acquired 100% stake in Warseps Healthcare LLP and acquisition is expected to complete on May 25, 2020.

DM Med City (Hospitals) India Private Limited has acquired 99% ownership and Aster DM Healthcare (Trivandrum) Private Limited has acquired 1% ownership.

Warseps Healthcare LLP ("the LLP") is in the business of developing, manufacturing, trading and advising / assisting third party for manufacturing various medical devices in various fields of medicine to address various diseases like diabetes, sepsis, etc.

The target entity's business supplements the main line of business of Aster DM Healthcare Limited. The target entity has Intellectual property rights of some ongoing research activities. Acquisition of the target entity will result in expansion of Aster DM Healthcare's current healthcare service portfolio.

Shares of Aster DM Healthcare Ltd was last trading in BSE at Rs.90.6 as compared to the previous close of Rs. 83.8. The total number of shares traded during the day was 13537 in over 791 trades.

The stock hit an intraday high of Rs. 92.15 and intraday low of 84.05. The net turnover during the day was Rs. 1225033.

Source : Equity Bulls

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