Reliance Digital Health to acquire 45% stake in Health Alliance Group for $10 million

Reliance Digital Health Ltd (RDHL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has agreed to acquire 45 per cent equity stake in Health Alliance Group, a US-based healthcare company, for $10 million.

Reliance Industries Ltd on Saturday said Reliance Digital Health Ltd (RDHL) has signed definitive agreements with Health Alliance Group Inc (HAGI), a Delaware company that specialises in developing technology-driven solutions for the underserved.

Health Alliance Group, which used information technology for innovative healthcare solutions, has operations across the world, including the United States and India. 

The alliance with Health Alliance will enable RDHL to develop a virtual diagnostic and healthcare platform and expand services and provide healthcare access to those in need. 

The transaction does not require any governmental or regulatory approvals, but is subject to customary closing conditions and is expected to close in 2 weeks. 

As part of its expansion in the healthcare sector, Reliance Industries is also investing Rs202.16 crore in Karkinos Healthcare, a technology-led oncology platform which is underinsolvency process.

The investment is being made through its subsidiary Reliance Strategic Business Ventures Limited (RSBVL), 

While the investment will help the company settle debts, Reliance has pledged an additional Rs150 crore to meet working capital requirements of Karkinos Healthcare.