Indian pharmaceutical major Cipla has entered into an agreement to invest up to Rs 40 crore in ABCD Technologies LLP, a digital health firm which will be renamed as IndoHealth Services LLP.
IndoHealth was created to facilitate, enable and promote efficiency in the pharma supply chain and larger pharma ecosystem, a statement said.
Cipla stands to acquire a 20% stake in the entity and will make follow-on investments “corresponding to contributions by other partners”.
Last week, Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma said they were picking up 20% stake each for Rs 40 crore each in IndoHealth.
IndoHealth was set up on February 10, 2020 to enable stakeholders to provide better and more affordable patient-care solutions, in line with the objectives of National Digital Health Mission (NDHM), the statement said.
It will be a holding entity and would undertake business through one or more subsidiaries.
Cipla told the exchanges that this investment is in line with its strategy of leveraging digital assets and “philosophy of access and affordability of medicine to all”.
NDHM has the mandate to develop the digital health infrastructure for the country.
This includes establishing an online platform and creating registries to create a single source for clinical establishments, healthcare professionals, health workers, drugs and pharmacies, its website said.