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Vedanta Group's founding family member Mr Agnivesh Agarwal has picked up a 60 per cent stake in Chennai-based Primex Healthcare.
Mr Agarwal has invested in the company in his individual capacity.
Primex Healthcare runs five own X-ray and diagnostic centres in Chennai. (The Primex Group also operates over 50 franchisee centres under the Primex Scans and Labs banner across Tamil Nadu.)
This is not a stake sale or investment for expansion but marks Mr Agarwal's entry into Primex Healthcare as Executive Director, said Mr Anand Mahadevan, CEO, Primex Healthcare.
“We will utilise the network Mr Agarwal brings in - we have already started working with the Vedanta Foundation which has developed initiatives in healthcare and education. With Mr Agarwal's entry, fund raising capacity for corporate business can become significant.”
Primex Healthcare equity structure now includes Mr Agnivesh Agarwal the majority stake holder with the balance 40 per cent with Primex Scans & Labs, through which Kalpathi Investments and the promoter family of the Primex Group hold more than 15 per cent each in Primex Healthcare. Kalpathi Investments is a Chennai-based venture capital firm which picked up a stake in Primex Scans in August 2010.
Mr Agnivesh Agarwal is the son of Mr Anil Agarwal, who founded the Vedanta Group, which has interests in natural resources. He is also the non-executive chairman of the Hindustan Zinc Ltd.
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