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Eris Lifesciences today said it has acquired nutraceuticals maker UTH Healthcare for Rs 12.85 crore.
UTH Healthcare is largely present in obesity, diabetes, maternal nutrition, gestational diabetes mellitus and cardio-vascular disease, Eris Lifesciences said in a filing to BSE.
Eris Lifesciences in July 2016 entered into a share purchase and shareholders’ agreement to acquire 75.48 per cent in Kinedex, a firm that focuses on products catering to mobility related disorders, the company said.
“This is a unique position to work from where the two entities will leverage their strengths and add value...With this, I have signed up for a bigger role at Eris and look forward to making notable contribution to the industry at large,” UTH Healthcare Chairman A. K. Khanna said.
Shares of Eris Lifesciences were trading at Rs 580 per scrip on BSE, up 0.42 per cent from its previous close.
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