The company invests an enormous Rs190 crores in the healthcare industry of the United Arab Emirates and acquires 51% share in Vittal’s MediCare. Evexia Lifecare Limited, a leading name in the pharmaceutical and healthcare sector, has made significant strides in expanding its global footprint. The company has embarked on an ambitious expansion spree, with two major developments signaling its commitment to growth and diversification in the healthcare industry.
On October 6, 2024, Evexia Lifecare signed a term sheet to acquire 51% stake in , a renowned diagnostics company Vittal’s MediCare Private Limited. The acquisition is valued at Rs35 crores, post- effect it will result in Vittal’s MediCare becoming a subsidiary of Evexia Lifecare. The move aligns with the company’s strategic vision to strengthen its position in diagnostics, which complements its core operations in manufacturing and trading of pharmaceuticals, chemicals, and lifecare products. Vittal’s MediCare Private Limited recorded revenues of Rs25.7 crores in FY 2020-21, Rs66.3 crores in FY 2021-22, and Rs38.5 crores in FY 2022-23. These numbers demonstrate a track record of profitability and steady revenue growth.
Expanding Reach in UAE
Both transactions are expected to be completed within 45 days, subject to regulatory approvals and the execution of definitive agreements. Evexia Lifecare is confident that these ventures will not only bolster its revenue growth but also enhance its brand presence in the global healthcare industry.
Evexia Lifecare Limited is a leading player in the pharmaceutical and life care industry, engaged in the manufacturing and trading of a wide range of pharmaceutical, chemical, and life care products. The company is committed to providing high-quality, affordable healthcare solutions to consumers across India.