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Cipla acquires 30 pc stake in South African Brandmed

ANI 

Pharmaceutical Ltd is acquiring 30 per cent stake in South African company to increase its exposure to the segment.

Besides the upfront cash payment, the transaction also involves milestone payments spread over three years on meeting profit targets. The transaction worth Rs 32 crore will be executed by Cipla's South African arm Medpro.

In February, had announced a similar partnership in with Wellthy Therapeutics to offer a clinically-validated digital management platform to patients in cardio-metabolic health.

Cipla said in a statement that it expects to complete the transaction with by May 31.

"This will help to from being reactive to a proactive and real-time monitoring model that focuses on promoting wellness instead of managing illness," said Paul Miller, of

"By pairing our strengths with Brandmed' s innovative, patient centric approach to healthcare, will enhance its diverse portfolio in the non-communicable area to provide holistic care to patients from awareness through to management, thereby enabling patient adherence and compliance."

Founded in 2014, has developed an integrated solution to address outcomes and value-based care for patients with and

According to the World Health Organisation, more than 38 million people die annually from like cardiovascular ailments, cancers, and

.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 17 2019. 10:58 IST
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