Strategic Investment by Advent International to Strengthen Apollo 24|7’s Position in Omnichannel Healthcare Services
Cyril Amarchand Mangaldas (CAM) played a crucial role in advising Advent International (“Advent”) on its investment of approximately INR 2,475 crore in Apollo Healthco Limited (“AHL”), a key subsidiary of Apollo Hospitals Enterprises Limited (“AHEL”). AHL operates the omnichannel healthcare platform, Apollo 24|7, which offers a wide range of medical and ancillary services across various healthcare products.
The investment also includes AHL’s acquisition of Keimed Private Limited (“Keimed”), a major player in the wholesale distribution of pharmaceutical and healthcare products, with Keimed subsequently merging into AHL.
CAM provided strategic guidance to Advent throughout the transaction, covering all stages from the initial negotiation and drafting of transaction documents to navigating regulatory approvals, including anti-trust clearances and addressing transaction-specific matters.
The General Corporate team at Cyril Amarchand Mangaldas, led by Vandana Sekhri, Arun Sadhanand Prabhu, Anand Jayachandran, and Sonakshi Arora, guided Advent across the deal lifecycle. The team also included Hina Tolani, Deval Dangayach, and Kabeer Jay.
Siddharth K. Vedula and Kushal Ramotre were instrumental in finalising and executing the transaction documentation.
The due diligence efforts were spearheaded by Aditi Manchanda, with support from Naimi Kamdar, Dhrumil Sanghvi, Lokit Khurana, Utkarsh Roy, Kabeer Jay, Divya Shrivastava, Maya Venkiteswaran, Yashasvi Raj, Rashmi John, and Mansi Jain.
Key areas of advisory included pharma and healthcare regulatory matters, led by Biplab Lenin and supported by Kartik Jain, Priyam Raj Kumar, Kritika Asawa, and Preksha Mehndiratta. The team also addressed contracting, intellectual property, IT, and data protection issues under Arun Prabhu’s leadership, with assistance from Arpita Sengupta, Diksha Joshi, and Kanav Khanna.
Bishen Jeswant led the employment diligence and advisory, supported by Krithika Radhakrishnan, Himaa Sudhir, Raunak Sood, and Parnika Sharma.
Anti-trust aspects of the transaction were managed by Avaantika Kakkar and Vijay Pratap Singh Chauhan, with support from Rajat Sharma, Svyambhuv Talwar, and Divyashree R.
The transaction was signed on April 26, 2024, and successfully closed on September 27, 2024.
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