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Board of Virinchi Technologies approves scheme of amalgamation

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At meeting held on 27 January 2016

announced that the Board of Directors of the Company at its meeting held on 27 January 2016 approved the scheme of amalgamation between Virinchi (Transferee Company) and Bristlecone Hospital (Transferor Company) subject to approval of shareholders and creditors and all regulatory authorities including SEBI/ Stock Exchanges and Honourable High Court of Judicature at Hyderabad for the States of Telangana and Andhra Pradesh.

The Board approved of the incorporation of a new company with the name, Virinchi Combinatorics and Systems Biology, as a 100% subsidiary of Virinchi. The objective of this new entity will be to develop Patient Similarity Analytics and Disease Progression Patterns to eventually develop tools to aid patient specific Diagnosis and Prognosis with the electronic medical records of patients that the Company will gain access to, owing to the proposed merger.

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First Published: Thu, January 28 2016. 09:31 IST