Latest in markets: PharmEasy to acquire 66 per cent stake in Thyrocare Technologies!
The stock of Thyrocare Technologies is up by more than 43 per cent in one month while in one year the stock is up by more than 186 per cent.
In the latest development in the Pharma sector, Pharm Easy a startup will be buying 66 per cent stakes in a well-established and a reputed, high growth oriented diagnostic chain Thyrocare Technologies for over Rs 4,500 crore.
The transaction is expected to be concluded by the end of this quarter. The street will be surprised to see the development as it is rare to see a startup buy majority stakes in a well-established company like Thyrocare Technologies. Normally an established company targets a start up!
One good thing that may happen with Thyrocare Technologies, now that the majority stakes will be with Pharma Easy, is that the company now will be run by an aggressive management with an edge in technology and can exploit synergies to accelerate the growth for an already growing company with a fantastic franchise network spread across India.
Thyrocare Technologies has generated 22 per cent returns over five-year period and is one of the most efficient pharma company as recognized in terms of RoE or RoCE.
The reasons for the stake sale as per owner are personal,while the owner remains bullish on the underlying business. The business is expandable and exapnsion will be faster with the new management , as per the owners expectation shared with media on Friday late evening. The promoter of Thyrocare Technologies will be holding stakes in the API holdings which in turn holds Pharm Easy.
The stock of Thyrocare Technologies is up by more than 43 per cent in one month while in one year the stock is up by more than 186 per cent. At current prices the dividend yield for the company is 1.72 per cent.
Thyrocare Technologies is engaged in the business of healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India.