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Adani and Apollo's deal with Metropolis could be at least worth $1 billion or Rs 7,765 crore, given the market captalisation of the diagnostic chain
Billionaire Gautam Adani and India's biggest hospital operators, Apollo Hospitals Enterprise Ltd are assessing bids to take a majority stake in Metropolis Healthcare Ltd, a media report said.
Adani and Apollo's deal with Metropolis could be at least worth $1 billion or Rs 7,765 crore, given the market captalisation of the diagnostic chain and its operations, Mint reported quoting two people familiar with the matter.
This comes after the Adani Group, one of India’s largest business conglomerate, last month announced its foray into the healthcare sector and reports suggested that it is planning to acquire large hospitals and diagnostic assets. Adani Enterprises in May said it has incorporated a wholly-owned subsidiary, Adani Health Ventures (AHVL), for this purpose.
To gain a foothold in the sector, Adani Group has reportedly earnmarked $4 billion for the business.
The Adani Group, which has more than $20 billion in annual revenue, is also interested in entering the pharmacy space, through both