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CCI approves acquisition of equity shares of Medlife by API Holdings

Wednesday, 23 Sep 2020
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The Competition Commission of India (CCI) has approved acquisition of 100 percent equity shares of Medlife International (Medlife) by API Holdings and up to 19.59 percent equity share capital of API Holdings by Medlife’s shareholders under Section 31(1) of the Competition Act 2002.
 
The proposed combination relates to the acquisition of 100 percent equity shares of Medlife by API and as consideration, the acquisition of up to 19.59 percent of the equity share capital of API Holdings (on a fully diluted basis) by the Medlife Promoter Shareholders and other shareholders of Medlife.
 
API Holdings is a private company, incorporated in 2019. It is directly or through its subsidiaries carries out various business activities including wholesale sale and distribution of drugs; transportation and delivery services primarily focused on the pharmaceutical sector; owning technology and intellectual property for developing e-commerce platforms; provision of manpower supply, support, business function support for group companies of API Holdings; provision of master data management services support; developing ERP and software solutions primarily for healthcare businesses.
 
It also carries out other customised application services for retail pharmacies, operating and providing online application which provides B2B order management system for retailers and distributors of pharmaceutical products, medical devices and OTC drugs; and developing a platform which connects registered medical practitioners and patients whereby the patients could consult with them through the platform by way of tele-consultation as well as physical consultation.
 
The Trust is a private trust incorporated under the Indian Trusts Act 1882. It has various investments in the healthcare sector, including the majority shareholding in Medlife.
 
Medlife, incorporated in 2014, is primarily a healthcare company engaged in the wholesale and distribution of drugs. It also engages in the retail sale of pharmaceutical products, medical devices and OTC drugs, through pharmacies and online marketplace.
 
Medlife also offers healthcare services such as medicines and wellness products, digital doctor consultation and online diagnostic tests services.
 
 
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