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Fortis acquires CRS Health

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Fortis Healthworld has acquired CRS Health, a Delhi-based pharma and wellness retail chain. It is also planning to rebrand itself and the pharma chains it acquires in future as Religare Wellness. CRS is the drug retailing arm of the diversified Delhi-based SAK Industries. Though the size of the deal is not big, it is Malvinder Singh and Shivinder Singh’s first acquisition since they sold their pharma company Ranbaxy to Daiichi Sankyo. Fortis will pay around INR 15 crore to acquire 90% stake in CRS Health. Ravi Rajan & Company was the advisor to the deal. CRS has 30 stores which will help Fortis expand in the South. The promoters of CRS Health will hold 10% stake. Fortis has around 40 stores and plans to expand its presence to over 100 cities in 18-24 months.

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