Piramal to sell diagnostics equipment trading unit to DiaSys

The deal is worth Rs 13 cr

Piramal Enterprises, which sold out major pharma business to Abbott and ceased its drug discovery operations, is selling its diagnostics equipment trading unit to German firm DiaSys Diagnostics Pvt Ltd for Rs 13 crore.

The firm said it would also be transferring related technology for a consideration of Rs 0.03 crore.

"This business is a trading business, comprising buying selling of diagnostics equipments, serving large pathological laboratories. It does not form part of the core manufacturing activity of the company, nor does it involve any material patented products. It comprises a small portion (about 1%) of the company's consolidated business," the statement said.