Apollo HealthCo Ltd (AHL), a subsidiary of Apollo Hospitals Enterprise (AHEL), on Friday entered into a binding agreement to raise equity capital of Rs 2,475 crore from Advent International (Advent), one of the world’s largest private equity (PE) players. The transaction will also see the merger of two units under Apollo Healthco – its wholesale pharma distribution unit Keimed Pvt Ltd and online healthcare business Apollo 24’7. The merger will take place in a phased manner over the next 24-30 months.
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