This acquisition will increase Cipla's exposure to the connected healthcare segment.
Pharmaceutical major Cipla Ltd has acquired a 30% stake in South African healthcare firm Brandmed. This acquisition will increase Cipla’s exposure to the connected healthcare segment. Cipla's South African arm Cipla Medpro will execute the transaction worth Rs 32 crore.
The company is expected to complete the transaction with Brandmed by May 31.
Paul Miller, Chief Executive Officer of Cipla Medpro, said, "This will help to transition healthcare from being reactive to a proactive and real-time monitoring model that focuses on promoting wellness instead of managing illness."
"By pairing our strengths with Brandmed' s innovative, patient-centric approach to healthcare, Cipla Medpro will enhance its diverse portfolio in the non-communicable disease area to provide holistic care to patients from awareness through to disease management, thereby enabling patient adherence and compliance," he added.
Brandmed was founded in 2014. It has developed an integrated solution for addressing outcomes and value-based care for patients with chronic lifestyle and non-communicable diseases.
As per World Health Organisation (WHO), over 38 million people die annually from non-communicable diseases such as cardiovascular ailments, cancers, chronic respiratory disorders and diabetes.