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Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited, has acquired 2,28,42,654 equity shares of Strand Life Sciences Private Limited for ₹393 crore as part of a push into digital health.
Reliance said in a statement it will further invest up to ₹160 crore by March, 2023, taking its stake in Strand Life Sciences to 80.3 per cent of the equity share capital on a fully diluted basis.
Strand is a pioneer of genomic testing in India with bioinformatics software and clinical research solutions to healthcare providers including clinicians, hospitals, medical devices manufacturers and pharmaceutical companies.
The investment is part of the group’s digital health initiatives, to foster affordable access to world class technology and innovation led healthcare ecosystem in India, Reliance said.
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