Drug giants Dr Reddy’s Laboratories and Cipla have informed that they have joined hands for a partnership agreement with ABCD Technologies LLP, which will be renamed as IndoHealth Services LLP.
In regulatory filings, the two firms have said that they are pumping in up to Rs 40 crore each corresponding to the contribution by the other partners in the target entity which is a newly-incorporated limited liability partnership (LLP) and has not commenced any business activities.
The target entity’s proposed business, the firms added, will be carried out for facilitating the digitisation of the healthcare infrastructure in the country for enhancing good distribution practices in support of the government’s National Digital Health Mission.
Cipla has informed that the nature of consideration is cash infusion as capital contribution towards partnership and Dr Reddy’s has said that the nature of consideration is cash infusion as capital contribution and/or loan. Their contribution of up to Rs 40 crore is for up to 20% share of profit/loss in the target entity, they added.