New Delhi, July 1 -- Apollo Hospitals Enterprise Limited (AHEL) late on Monday announced plans to list its omnichannel pharmacy and digital health business in the next 18-21 months as part of a strategic reorganization.

The company's board of directors has approved the demerger of its omnichannel pharma and digital health business, Apollo HealthCo, into a new entity-NewCo-through a composite scheme of arrangement. Following the demerger, Keimed, the wholesale pharmaceutical distributor that Apollo acquired last year, will be amalgamated with NewCo.

Apollo Hospitals shareholders will have direct shareholding in the combined entity. For every 100 shares of AHEL, shareholders will receive 195.2 shares of the new entity, the company said. ...