Sun Pharma Acquires 37% Stake In Diagnostic Firm Ezerx Health Tech

On Thursday Sun Pharmaceutical said in an exchange filing that it has entered into agreements to acquire a minority stake in Ezerx Health Tech and Agatsa Software. The company has acquired 37.76 per cent equity shares of Ezerx Health Tech for Rs 28.69 crores. 

Founded in 2018, EzeRx is an early-stage medical technology company that provides innovative non-invasive screening solutions to identify primary health parameters early. The revenue from operations for the year 2022- 23 was Rs. 6.15 crore. 

Sun Pharmaceutical has also increased its stakes by acquiring an additional 4.04 per cent stake in Agasta Software from existing shareholders for Rs 4.5 crore which will result in the total proposed acquisition of stake going up to 30.13 per cent of Agatsa. The pharma giant acquired a 26.09 per cent stake in Agasta in February this year. 

Agatsa is engaged in research, development and commercialization of non-invasive medical devices in the diagnostic health segment by leveraging technology and R&D capabilities. The revenue from operations for FY2023 was Rs. 1.10 crore.

The purchase of a 4.04 per cent stake from existing shareholders is expected to be completed by December 2023 subject to satisfactory completion of certain conditions, the company said. 

On Friday the company's stock was trading 0.64 per cent higher at Rs 1127.05 as of 10:54 IST on BSE.