Reliance Expands Health Horizons with Karkinos Acquisition
Reliance Industries has acquired Karkinos, a healthcare platform focused on cancer detection and treatment, for Rs 375 crore. The acquisition aims to enhance Reliance's health services portfolio. Karkinos provides innovative cancer solutions and collaborates with hospitals, with a new facility underway in Imphal.
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In a strategic move to bolster its healthcare division, Reliance Industries, led by billionaire Mukesh Ambani, has acquired Karkinos, a technology-driven oncology-focused platform, for Rs 375 crore. This acquisition is seen as a push to expand Reliance's health services portfolio.
Reliance Strategic Business Ventures Limited (RSBVL), a subsidiary of the valued Indian company, confirmed the acquisition through a stock exchange filing. Karkinos, established in 2020, specializes in early cancer detection and management with a turnover of Rs 22 crore in 2022-23.
Reliance's acquisition received clearance from the National Company Law Tribunal and requires no further approvals. Karkinos has partnered with 60 hospitals to provide oncology services and plans to open a 150-bed cancer hospital in Manipur.
(With inputs from agencies.)
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