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    • Cipla acquires 30...

    Cipla acquires 30 percent stake in Brandmed for Rs 32 crore

    GarimaBy GarimaPublished On 2019-04-18T09:15:08+05:30  |  Updated On 2021-08-16T11:42:49+05:30




    The acquisition of Brandmed is expected to complete by May 31. The transaction worth Rs 32 crore will be executed by the company's South African arm Cipla Medpro.

    Mumbai: Pharmaceutical major Cipla Ltd is acquiring 30 per cent stake in South African company Brandmed to increase its exposure to the connected healthcare segment.

    Besides the upfront cash payment, the transaction also involves milestone payments spread over three years on meeting profit targets. The transaction worth Rs 32 crore will be executed by the company's South African arm Cipla Medpro.

    Read Also: Cipla, Pulmatrix join hands to co-develop Pulmazole for treating asthma

    In February, Cipla had announced a similar partnership in India with Wellthy Therapeutics to offer a clinically-validated digital disease management platform to patients in cardio-metabolic health.

    The company said in a statement that it expects to complete the transaction with Brandmed by May 31.

    "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," said Paul Miller, Chief Executive Officer of Cipla Medpro.

    Read Also: Cipla launches respiratory inhalation therapy product Niveoli in India

    "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."

    Founded in 2014, Brandmed has developed an integrated solution to address outcomes and value-based care for patients with chronic lifestyle and non-communicable diseases.

    Read Also: Cipla signs over Rs 152 crore pact with Pulmatrix for new asthma drug Pulmazole

    According to the World Health Organisation, more than 38 million people die annually from non-communicable diseases like cardiovascular ailments, cancers, chronic respiratory disorders and diabetes.



    Acquistion brandmed cancers cardiovascular ailments chronic lifestyle chronic respiratory disorders Cipla cipla acquistion Cipla Medpro diabetes Healthcare holistic care India Mumbai Non Communicable Diseases South African Brandmed Wellthy Therapeutics WHO World Health Organisation 
    Source : ANI

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Garima
    Garima

      Garima joined Medical Dialogues in the year 2017 and is currently working as a Senior Editor. She looks after all the Healthcare news pertaining to Medico-legal cases, MCI/DCI decisions, Medical Education issues, government policies as well as all the news and updates concerning Medical and Dental Colleges in India. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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