Dialysis and kidney care provider NephroPlus has acquired the Rs.50-crore Indian operations of the world’s second largest kidney care provider and US-listed Fortune500 firm DaVita for an undisclosed sum. The ‘first of many more acquisitions’ will extend NephroPlus’ network to 176 centres in 97 cities across 18 states in India, serving over 13,700 patients. The 8-year-old Indian firm, which reported around Rs.150 crore of revenue last fiscal, is looking for combined revenue of Rs.250 crore this fiscal.
Pharmaceutical company Unichem Laboratories has acquired a 19.99 per cent stake each in Optimus Drugs Pvt Ltd and Optrix Laboratories Pvt Ltd for a total consideration of about $16.5 million (Rs.120 crore). Hyderabad-based Optimus and Optrix, owned and controlled by the same management, are engaged in the business of researching, developing, manufacturing, marketing and distribution of active pharmaceutical ingredients (API) and intermediates. The key objective of the investment is to gain access to the manufacturing facilities of Optimus and Optrix.
Bengaluru-based delivery startup Dunzo Digital Pvt. Ltd has raised Rs.7 crore ($962,500) by issuing non-convertible debentures to venture debt firm Alteria Capital. The funding will be used by the startup to expand its service offerings and for general corporate purposes.
Impact investor Acumen has invested an undisclosed amount in diagnostics-focused healthtech startup Healthcubed Inc’s pre-Series A funding round. Acument had also invested in the startup’s seed funding round, which operates out of Delaware, US and New Delhi. Healthcubed’s flagship product Healthcubed Pro is an internet-connected, portable tablet that claims to conduct several point-of-care diagnostic tests as well as screenings, providing follow-up services and back-end health analytics.
In the latest Doing Business Report (DBR, 2019) by the World Bank, India has recorded a jump of 23 positions against its rank of 100 in 2017 as it reaches 77th position, among 190 countries assessed by the World Bank. Last year, India jumped 30 places ahead and has recorded jump of 65 positions in last four years. The World Bank report noted that India has improved its rank in 6 out of 10 indicators and has moved closer to international best practices (Distance to Frontier score) on 7 out of the 10 indicators. But, the most dramatic improvements have been registered in the indicators related to ‘Construction Permits’ and ‘Trading Across Borders’. The World Bank has recognised India as one of the top improvers for the year. Going forward, India is been taking up the challenge of keeping up with the global trends be it in business scenario or innovation.
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