Aknamed snaps up Vardhman Health for USD35 mn

The transaction enables Aknamed to further promote excellence in the delivery of healthcare essentials, with an enhanced pan-India footprint with leadership in therapeutic areas such as oncology, immunotherapy and virology, Aknamed said.

The acquisition is for $35 million, it added.

“Our vision and goal have resonated well with the Vardhman team as their business has been built on similar values over the years,” Aknamed Founder and CEO Saurabh Pandey said. Vardhman CEO Naresh Chowhan said, “This partnership underlines the growing importance of consolidation in the pharma supply chain industry in India. It opens up significantly larger opportunities, apart from the synergies derived from the combined businesses of Vardhman and Aknamed”.

The combined teams of Aknamed and Vardhman are aiming to work towards building a robust hospital focused supply chain in India through the use of technology, data, high-quality infrastructure and scale, a statement said.