After Cement, Oil, Power, Adani Group Targets Healthcare Sector: Launches Health Company For These Services
After edible oil, education, mining, airport operations, and natural gas, Adani Group has now announced its entry into the healthcare sector!
The conglomerate has stated that it will be incorporating a wholly-owned subsidiary for healthcare related services.
Adani Group To Make Its Entry Into Healthcare; Incorporates Wholly Owned Subsidiary
Activities related to healthcare will now be taken care of by this subsidiary, Adani Health Ventures Limited (AHVL). As per the company’s exchange filing, healthcare-related activities include setting up medical and diagnostic facilities.
AHVL has been incorporated by Adani Enterprises Limited on 17 May 2022 with the intention to handle inter alia, setting up, running, and administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers, and other allied and incidental activities in this regard.
The AHVL was incorporated by Adani with an initial authorized and paid-up share capital of Rs 1,00,000/- each.
The exchange filing has also stated that “AHVL will begin its business operations in due course.”
The healthcare sector in India is the latest to come under Adani’s target, and it is expected to grow in the coming years. As per a report by Niti Aayog, the healthcare industry has been growing at a compound annual growth rate (CAGR) of around 22 per cent since 2016.
It will most likely reach USD 372 billion in 2022.
Adani Group Acquires Ambuja Cements And ACC Ltd.
Recently, we have reported that the Adani Group has forayed into the cements segment in the country, and has signed definitive agreements with Holcim Ltd to acquire its holdings in Ambuja Cements and ACC Ltd.
The consideration for the acquisition deal and open offer for Ambuja and ACC are estimated at about $10.5 billion.
A transaction of this size will make the Holcim deal the largest-ever acquisition by the conglomerate Adani Group. Not just that, it will also be the country’s largest-ever M&A transaction in the infrastructure and materials space, stated the company.
Adani Group Chairman Gautam Adani Becomes Fifth Richest Person In The World
Adani Group chairman Gautam Adani has overtaken the legendary investor Warren Buffet and become the fifth richest person in the world.
As per a Forbes report, the 59-year-old Adani has an estimated net worth of $123.7 billion and as of Friday’s market close, his wealth has surpassed Buffett’s $121.7 billion fortune.
He has has increased his wealth by $43 billion in 2022 which is a spectacular spike of 56.2% in his portfolio, as per Bloomberg Billionaires Index.