MUMBAI:
After its second acquisition of
molecular imaging development portfolio of Germany's Bayer Pharma, Piramal Healthcare
is eyeing more buyouts in pharma, home finance and home security systems
businesses, Piramal Group Chairman Ajay Piramal said today.
"We
plan to expand activities in the pharma-based areas, financial services sector
and home security systems in the near future through an inorganic growth
route," Piramal said.
Earlier
in the day, Piramal Healthcare signed an agreement to acquire worldwide rights
to the molecular imaging R&D portfolio of Bayer Pharma AG through its
newly-created subsidiary -- Piramal Imaging.
Last
year, the city-based company had acquired assets of BioSyntech after it had
sold its drug formulations business to the global drug giant Abbott Pharma for
USD 3.8 billion in May 2010.
It had
also acquired financial firm Indiareit Fund Advisors and Indiareit Investment
Management, Mauritius for Rs 225 crore in May, 2011.
Sitting
on a huge cash pile, the Piramals also made a strategic investment in Vodafone
India by picking up 1 per cent stake in the country's second largest mobile
operator in two installments for Rs 5,856 crore.
The
company will fund its acquisitions through strong internal resources, Piramal
said.
The
company is sitting on a huge cash pile as the flagship company, Piramal
Healthcare sold its formulations division in May, 2010 for USD 3.8 billion (Rs
18,500 crore). The company has received upfront payment of USD 2.12 billion (Rs
10,000 crore).
"We
are expecting rest of the money in installments of USD 400 million (around Rs
2000 crore) each for the next three years, Piramal said.
In the
financial service sector, the company is floating two NBFCs under a holding
company PHL Finance which will focus on lending to real estate, promoter
financing, hospitals and educational institutes.
Replying
to a query on the company's investment in Vodafone, Piramal said, "We have
made a short-term strategic investment in the company."
In
August, 2011, the company had bought 5.5 per cent stake in telecom major
Vodafone for Rs 2,856 crore and another 5.5 per cent stake for Rs 3,000 crore
this February.
Piramal
Healthcare is today one of the country's largest healthcare companies, with a
growth track record of above 29 per cent CAGR since 1988.
Piramal
Healthcare had consolidated revenues of USD 650 million in FY2010-11. With
assets across North America, Europe and Asia, apart from the domestic assets,
Piramal Healthcare is also one of the largest custom manufacturing companies
across the world.
It also
has significant presence in the global critical care space, with selling
anaesthesia products to over 100 countries.
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