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Feb, 19 2019

Cipla's subsidiary to acquire 11.71% stake in Mumbai-based Wellthy Therapeutics

Goldencross Pharma, a wholly-owned subsidiary of Cipla, has signed an agreement to acquire 11.71% stake in Mumbai-based Wellthy Therapeutics.

Goldencross Pharma, a wholly-owned subsidiary of Cipla, has signed an agreement to acquire 11.71% stake in Mumbai-based Wellthy Therapeutics for a cash consideration of Rs 10.5 crore.

Under the agreement, the partners plan to provide a combination of pharmacotherapy and digital therapeutics for improved patient outcomes in the chronic therapies of diabetology and cardiology. This deal will make a multi-lingual clinically-validated digital disease management platform available to patients living with diabetes or cardiovascular diseases through doctors' clinics or co-packaging on select Cipla brands. 

Umang Vohra, Managing Director & Global Chief Executive Officer, Cipla, said, "The future of health care will be driven by increased use of technology, and this partnership gives Cipla the ability to offer this combination of prescription drugs and artificial intelligence-powered digital therapeutics to patients in cardio-metabolic health." 

Abhishek Shah, Co-founder & CEO of Wellthy Therapeutics, stated, "With the combination of Cipla's world-class formulations and clinically validated digital therapeutics of Wellthy Therapeutics, we look forward to helping empower and inspire millions of patients to achieve better, sustainable health outcomes."

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