Anil Agarwal's son Agnivesh buys controlling stake in Primex Healthcare
17 April 2012
Agnivesh Agarwal, son of the London-based Vedanta Group's founder-chairman, Anil Agarwal, has acquired a controlling stake in Primex Healthcare.
Agnivesh Agarwal, the chairman of Hindustan Zinc, a Vedanta group company, has in his personal capacity, bought a 60-per cent stake in Primex, for an undisclosed sum.
Primex Scans and Labs, which is owned by Kalpathi Investments, the promoter of Primex, will hold the remaining stake in the Chennai-based healthcare company.
Following the purchase, Agnivesh Agarwal will come on the board of Primex as the executive director.
"Agarwal has invested in his personal capacity and is a strategic investor. We have already started working with Vedanta Foundation on the healthcare side. The stake holding by Agarwal will enable Primex Healthcare to look at the corporate segment for business," said Anand Mahadevan, managing director and founder of Primex.
Agnivesh Agarwal, who is also a director at Sterlite Iron and Steel Company, said "India is a highly fragmented diagnostic services market. We believe that we will jointly be able to establish a strong presence in the healthcare segment."
Primex runs a chain of 6 diagnostic centres spread across Chennai and provides 2000+types of investigations including MRI scan, CT scan, digital X-Ray, Ultrasound, computerized ECG, TMT and lab tests.
Primex Scans a unit of the Primex Group also has 50 centres offering various diagnostic services across Tamil Nadu and is aiming to expand its network in southern states by adding around 200 centres.