New Delhi, Aug. 28 -- PVP Ventures Ltd said Thursday it has agreed to acquire a majority stake in dialysis services provider 7 Med India Pvt. Ltd and Epitome Group of kidney-care hospitals.
Mumbai-listed PVP will initially acquire a 41.23% stake in 7Med and will gain majority shareholding within 12 months for a total of Rs 127 crore, comprising primary capital infusion and secondary stake purchases.
The company will eventually increase its stake to 76% over time, it said in a statement. The subsequent investments are subject to achievement of financial benchmarks contractually laid out over the next few years, PVP said.
Published by HT Digital Content Services with permission from VC Circle.