CCI Approves Joint Acquisition in Digital Healthcare by 360 ONE and Claypond Capital

The Competition Commission of India (CCI) has granted approval to wealth management firm 360 ONE and Claypond Capital Partners to jointly acquire stakes in API Holdings, a digital healthcare platform. The acquisition includes purchasing certain class B compulsorily convertible preference shares from MEMG Family Office LLP.

The Competition Commission of India (CCI) has given its nod to a strategic joint acquisition involving 360 ONE and Claypond Capital Partners. The two entities are set to acquire stakes in API Holdings, a prominent player in the digital healthcare sector.

API Holdings boosts healthcare delivery through subsidiaries like Aknamed, Pharmeasy, Docon, Thyrocare, and Retailio. The proposed deal involves purchasing class B compulsorily convertible preference shares from existing shareholder MEMG Family Office LLP.

MEMG LLP, affiliated with the Pai Family Group, along with Claypond Capital, specializes in consulting and advisory services. The CCI's clearance reaffirms its role in maintaining fair competition by evaluating such transactions when they surpass specified thresholds to prevent anti-competitive practices.

(With inputs from agencies.)