Reliance Industries Expands Healthcare Portfolio with Karkinos Acquisition

Reliance Industries Limited has acquired a 100% stake in oncology platform Karkinos Healthcare, bolstering its digital and diagnostic healthcare services. The move is part of the conglomerate's broader strategy to integrate healthcare systems, following significant investments in various sectors over the past five years.

Reliance Industries Limited has intensified its push into the healthcare sector with the acquisition of Karkinos Healthcare, an oncology platform, through its subsidiary Reliance Strategic Business Ventures Limited. The $42.7 million deal was confirmed by the company on Saturday, marking another strategic investment in its expanding digital healthcare ecosystem.

Morgan Stanley highlighted the acquisition in a report on Monday, noting that Reliance has committed $13 billion in acquisitions over five years, with increasing attention towards healthcare. The investment bank pointed out that this shift aligns with Reliance's broader diversification goals, spanning sectors including new energy, TMT, and retail.

Karkinos Healthcare, established on July 24, 2020, specializes in early cancer detection and management, providing technology-driven solutions to aid patient care. Reliance's investment aims to harness its technological prowess and distribution networks to enhance the integration of digital health platforms and advanced healthcare models.

(With inputs from agencies.)