Cipla to acquire 11.71 percent stake in Wellthy Therapeutics
New Delhi: Drug major Cipla Monday said it has inked a pact to acquire 11.71 per cent stake in Wellthy Therapeutics. Golden cross Pharma, a wholly-owned subsidiary of Cipla, has inked an agreement to acquire the minority stake in the Mumbai-based firm for a cash consideration of Rs 10.5 crore, Cipla said in a regulatory filing.
As part of the deal, the partners plan to offer a combination of pharmacotherapy and digital therapeutics for improved patient outcomes in the chronic therapies of Diabetology and cardiology, it added.
Under the agreement, a multi-lingual clinically-validated digital disease management platform will be made available to patients living with diabetes or cardiovascular diseases via doctors' clinics or co-packaging on select Cipla brands.
The platform brings together behavioural science, real-world clinical evidence and artificial intelligence to provide real-time monitoring, coaching and advice to patients, and virtual clinical assistance to doctors.
"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," Cipla Managing Director & Global Chief Executive Officer Umang Vohra said in a statement.
By pairing Cipla's pharmacotherapy strengths with the digital approach to health care taken by Wellthy Therapeutics, the drug firm will add to its diversified portfolio in the cardio-metabolic area to provide holistic care to patients from awareness, diagnosis and compliance to well-being, he added.
"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," Wellthy Therapeutics Co-founder & CEO Abhishek Shah said.
The transaction is expected to close before March 10.