DATROWAY® Approved in Japan for HR Positive, HER2 Negative Breast Cancer

FDA Approves Injectable Form of Opdivo, Offering Greater Convenience for Cancer Patients

Reliance Acquires Oncology Platform Karkinos for ₹375 Crore

FDA Approves TEVIMBRA® for First-Line Treatment of PD-L1-Positive Gastric and Gastroesophageal Junction Cancers

CSIR's 2024 Healthcare Breakthroughs: Advancing Cancer Detection, Genetic Disorders, and Neurodegenerative Disease Research

Dr. Sandip Shah Appointed Chairman of NABL: A Visionary Leader in Indian Healthcare

Global and Indian Genetic Testing Market Trends in 2025

Mankind Pharma and Innovent Biologics Partner to Launch Groundbreaking PD-1 Immunotherapy in India

Duchenne Muscular Dystrophy: Diagnosis, Treatment, and Emerging Therapies

Ikena Oncology and Inmagene Biopharmaceuticals Announce Merger to Form ImageneBio

Fujirebio and Eisai Partner to Advance Diagnostics for Neurodegenerative Diseases

European Commission Approves Opdivo® Plus Yervoy® for First-Line Treatment of MSI-H or dMMR mCRC

Deerfield Management to Acquire Singular Genomics for $20 Per Share in All-Cash Deal

EU Approval of Tagrisso Sets New Standard for EGFR-Mutated NSCLC Treatment

Aurobindo Pharma’s Subsidiary CuraTeQ Secures UK Approval for Bevacizumab Biosimilar

Home
/
update
/
details

Reliance Acquires Oncology Platform Karkinos for ₹375 Crore

NextEdge Admin

28 Dec 2024

2 min 25 sec

Reliance Industries,technology,Acquisition

Mukesh Ambani's Reliance Industries has acquired technology-driven oncology platform Karkinos Healthcare for ₹375 crore through its subsidiary, Reliance Strategic Business Ventures Ltd (RSBVL). The transaction involved the allotment of ₹10 crore in equity shares and ₹365 crore in optionally fully convertible debentures, as disclosed in a stock exchange filing.

Karkinos, established on July 24, 2020, specializes in technology-enabled solutions for the early detection, diagnosis, and management of cancer. It reported a turnover of ₹22 crore in FY23. The acquisition is part of Reliance’s strategy to expand its health services portfolio.

The Mumbai Bench of the National Company Law Tribunal (NCLT) approved the resolution plan under the Insolvency and Bankruptcy Code, 2016, facilitating the acquisition without additional regulatory approvals. As part of the resolution, Karkinos canceled 30,075 equity shares held by its previous investors, including Tata Sons’ Ewart Investments, Mayo Clinic, Reliance Digital Health, and others.

Karkinos aims to provide affordable cancer care services, including diagnostics and treatment, while maintaining profitability. It partners with hospitals to deliver oncology services and is developing a 150-bed cancer hospital in Imphal, Manipur. Its revenue streams include advanced cancer diagnostics, a Distributed Cancer Care Network (DCCN), corporate partnerships for early detection, and cancer care hospitals.

Currently, Karkinos collaborates with approximately 60 hospitals and is focused on offering integrated oncology solutions at reduced costs. This acquisition strengthens Reliance’s position in the healthcare sector, aligning with its goal to deliver innovative, affordable, and comprehensive cancer care services across India.