Finger in Every Pie: After Cement, Healthcare Is Adani’s Latest Fancy

Photo by Zhen Hu on Unsplash

Billionaire Gautam Adani-led Adani Enterprises will enter the healthcare segment by setting up medical and diagnostic facilities. The company said it has incorporated a wholly-owned subsidiary, Adani Health Ventures Limited (AHVL), for this purpose.

As per an exchange filing, the subsidiary was incorporated on Tuesday with an initial authorized and paid-up share capital of Rs 1 lakh each to set up, run and administrate medical and diagnostic facilities, health aids, and research centres.

The commencement of its business operations will take place in due course. 

Scorching Pace

The tycoon’s Group is planning investments in the space to acquire hospitals and diagnostic assets. It is also likely to enter the pharmacy space through both online and offline routes. 

Recently, Adani acquired Holcim’s stake in cement majors Ambuja Cement and ACC. It is already a dominant player in infrastructure sectors like ports, airports, and power. The Adani Group has made 30 acquisitions in different sectors since 2014.

Adani Enterprises, an incubator for new businesses, also pumped in $20 million last month to acquire a minority stake in an Israeli startup, ForSight Robotics. The startup specialises in ophthalmological surgeries.

Who’s The Biggest Of ‘Em All

Adani is keen on scaling its healthcare business with its latest foray, similar to rivals Tata and Reliance.

Too long? Here’s a one-liner: Adani Group forays into healthcare; incorporates new subsidiary AHVL to set up medical and diagnostic facilities.

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