Mumbai: Thyrocare said its board has approved the sale of its entire stake in Nueclear Healthcare Limited (NHL), its radiology and diagnostic imaging subsidiary, to Trovera Healthcare Private Limited for approximately Rs 141.4 crore.
The proposed deal consideration comprises Rs 59.5 crore through 42,500 compulsorily convertible preference shares (CCPS) of Trovera and approximately Rs 81.9 crore in cash, subject to a working capital adjustment.
The proposed deal is subject to the approval of the shareholders of the Company and such other statutory, regulatory and contractual approvals, Thyrocare said.
It estimates the transaction to be completed on or before November 30, 2026.
The diagnostics chain said NHL’s radiology business needs continued investment in equipment, technology, maintenance and infrastructure. In a regulatory filing on July 23, Thyrocare had informed that its board had given in-principle approval to evaluate options for restructuring the business.
The company said it had arrived at the decision after evaluating various alternatives and added that the divestment would allow it to focus capital and management attention on its core pathology business.
Thyrocare currently operates its diagnostic laboratory facilities at Gurugram and Hyderabad from premises owned by NHL and pays rent for the use of such premises.
The diagnostics chain also informed it would be buying land and buildings in Gurugram and Hyderabad from NHL for approximately Rs 20.59 crore, excluding stamp duty and other charges.
