You are here: Home » Companies » News
Business Standard

Adani Group enters healthcare, will set up medical and research facilities

A subsidiary called Adani Health Ventures will commence its business operations in 'due course', says conglomerate.

Adani Group | healthcare

Sohini Das  |  Mumbai 

Adani group, adani enterprises
AHVL will carry out the business of healthcare-related activities like setting up of medical and diagnostic facilities, health technology-based facilities, and research centres, said the Ahmedabad-headquartered group.

The on Wednesday announced its foray into the health care space. In an exchange notification, Adani Enterprises said it has incorporated a wholly-owned subsidiary, Adani Health Ventures (AHVL), for this purpose.

AHVL will carry out the business of healthcare-related activities like setting up of medical and diagnostic facilities, research centres, it said.

In the filing, the group said Adani Health Ventures was incorporated on Tuesday with an initial authorised and paid-up share capital of Rs 1 lakh each, “to carry on the business of related activities including, inter alia, setting up, running, administering medical and diagnostic facilities, health aids, health tech based facilities, research centres and to do all other allied and incidental activities in this regard”.

AHVL will commence its business operations “in due course”, it added.

Reports suggest that Gautam Adani, founder and chairman of the Adani Group, is planning investments in the space that may include acquiring hospital and diagnostic assets. The group is also interested in entering the pharmacy space, through both online and offline routes, reports have claimed. Since 2014, the has made 30 acquisitions in different sectors.

The group has been on an acquisition spree of late, having acquired Holcim’s stake in cement majors Ambuja Cement and ACC recently. It is already a dominant player in infrastructure sectors like ports, airports, power.

According to the India Brand Equity Foundation (IBEF) the Indian health care sector is expected to be worth $372 billion by year end.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, May 18 2022. 20:06 IST