Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 30 2018

Ajay Piramal led Piramal Enterprises sells Piramal Imaging to UK firm

Piramal Imaging, a step-down subsidiary of Piramal Enterprises, reported revenue from operations of Rs 127.48 crore in the fiscal year ended 31 March 2018.

Billionaire Ajay Piramal-led Piramal Enterprises Ltd has sold its entire stake in Piramal Imaging SA to the UK-based medical imaging services provider Alliance Medical Acquisitionco Ltd.

The sale was done at a base consideration of $1 plus about $1.18 million toward working capital adjustment on completion of the sale, Piramal said in a stock market disclosure.

The transaction also involves deferred consideration that will be subject to future profits of the company, it added.

Piramal Imaging, a step-down subsidiary of Piramal Enterprises, reported revenue from operations of Rs 127.48 crore in the fiscal year ended 31 March 2018.

Piramal Imaging was formed in 2012 with the acquisition of the molecular imaging research and development portfolio of Bayer Pharma AG. The company is aimed at development and global commercialization of innovative molecular imaging agents that improve early detection and characterization of chronic and life-threatening diseases.

Piramal Enterprises is a diversified conglomerate with a presence in pharmaceuticals, healthcare information management and financial services.

The company’s pharmaceutical business’ revenue increased 11% to Rs 4,322 crore in the fiscal year ended 31 March 2018 from Rs 3,893 crore the previous year, according to a company presentation on its website. Revenue from the healthcare and analytics business fell a tad to Rs 1,209 crore from Rs 1,222 crore.

Its financial services business grew 48.6% to Rs 4,982 crore from Rs 3,352 crore.

Shares of the company on Tuesday were trading at Rs 2,536.55 apiece, up 0.28% on the BSE in afternoon trade in a flat Mumbai market.

Comment
Related opportunities
  • About Us: Euro India Fresh Foods Ltd is a ISO 22000:2005..
    Locations looking for expansion Gujarat
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 10000 - 50 K
    Space required 400
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Ahmedabad Gujarat
  • Three wheeler (Auto) showroom
    About Us: Funded by Paytm, rocketship.vc & Snow Leopard Technology Ventures,..
    Locations looking for expansion Chandigarh
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 2lac - 5lac
    Space required 00
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chandigarh Chandigarh
  • About Us: Global Academy Public School stands out as a master..
    Locations looking for expansion Madhya Pradesh
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 2lac - 5lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mandsaur Madhya Pradesh
  • About Us: My Hotline is a Cloud Communication and Business Solutions..
    Locations looking for expansion Punjab
    Establishment year 2002
    Franchising Launch Date 2015
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Jalandhar Punjab
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities