Date: 2025-09-23Category: Not ApplicableState: Union GovernmentCountry: India
CCI approves the proposed combination involving (i) demerger of the identified business undertaking of AHEL into AHTL; (ii) Merger and amalgamation of AHL and Keimed with and into AHTL; and (iii) acquisition of 74.5% shareholding of AMPL by AHTL
On 23 SEP 2025, the Competition Commission of India (CCI) approved a proposed combination involving: (i) demerger of the identified business undertaking of Apollo Health Enterprises Limited (AHEL) into Apollo Healthtech Limited (AHTL); (ii) merger and amalgamation of Apollo Healthco Limited (AHL) and Keimed Private Limited (Keimed) with and into AHTL; and (iii) acquisition of 74.5% shareholding of AMPL by AHTL. The proposed combination involves five steps:
1. Demerger of the identified business undertaking of AHEL into AHTL, as per a composite scheme of arrangement approved by the boards of directors and audit committees of Apollo Healthco Limited (AHL) and Keimed on June 27th 2025, and AHEL and AHTL on June 30th 2025
2. Merger and amalgamation of AHL with and into AHTL, as per the Composite Scheme.
3. Merger and amalgamation of Keimed with and into AHTL, as per the Composite Scheme.
4. Listing of AHTL equity shares on the stock exchanges, following the Composite Scheme.
5. AHTL acquisition of 74.5% of AMPL shareholding from existing shareholders in accordance with the applicable regulatory framework and a Share Purchase Agreement (SPA) executed between AHL, AMPL and existing AMPL shareholders.
AHTL is a newly incorporated company without activities in India or worldwide. AHL operates the “Apollo 24|7” platform for doctor appointments and diagnostic tests, and also operates in pharmacy distribution. Keimed is involved in wholesale sale and distribution of pharmaceutical products, OTC products, medical equipment, surgical products, scientific apparatus and equipment for hospitals and FMCG; retail sale of specialty pharmaceutical products through subsidiaries and marketing and sale of pharmaceutical products. A detailed order of the Commission will follow.
Key Entities Referenced
Keimed: One of the companies involved in the merger and amalgamation with AHTL.
Competition Commission of India: The antitrust regulator that approved the proposed combination.
Apollo Health Enterprise Limited (AHEL): One of the companies involved in the proposed business restructuring, specifically the demerger and merger/amalgamation.
Apollo Healthtech Limited (AHTL): The resulting entity of the demerger and merger/amalgamation, and acquirer of AMPL shares.
AMPL: The target company for the acquisition of 74.5% shareholding by AHTL.
Competition Commission of India
CCI approves the proposed combination involving (i)
demerger of the identified business undertaking of
AHEL into AHTL; (ii) Merger and amalgamation of
AHL and Keimed with and into AHTL; and (iii)
acquisition of 74.5% shareholding of AMPL by AHTL
Posted On: 23 SEP 2025 6:51PM by PIB Delhi
The Competition Commission of India has approved the proposed combination involving (i) demerger of the
identified business undertaking of AHEL into AHTL; (ii) Merger and amalgamation of AHL and Keimed with
and into AHTL; and (iii) acquisition of 74.5% shareholding of AMPL by AHTL.
The proposed combination involves the following:
a. Step 1: demerger of the identified business undertaking of Apollo Health Enterprise Limited (AHEL)
(Identified Business Undertaking Demerger) into Apollo Healthtech Limited (AHTL), in accordance
with a composite scheme of arrangement approved by the boards of directors and audit committees of
th
Apollo Healthco Limited (AHL) and Keimed Private Limited (Keimed) on 27 June 2025, and AHEL
th
and AHTL on 30 June 2025 (Composite Scheme);
b. Step 2: merger and amalgamation of AHL with and into AHTL (AHL Merger) in accordance with the
Composite Scheme;
c. Step 3: merger and amalgamation of Keimed with and into AHTL(Keimed Merger) in accordance with
the Composite Scheme;
d. Step 4: listing of the equity shares of AHTL on the stock exchanges, subsequent to effectiveness of the
Composite Scheme; and
e. Step 5: Acquisition of 74.5% shareholding of AMPL from existing shareholders by AHTL (AMPL
Acquisition) in accordance with the applicable regulatory framework and in terms of a Share Purchase
Agreement (SPA) executed between AHL, AMPL and the existing shareholders of AMPL (AMPL
SPA).
AHTL is a newly incorporated company and currently does not have any activities worldwide or in India.
AHL operates the “Apollo 24|7” platform which helps users/customers to book doctor appointments and
diagnostic tests. AHL also operates in the pharmacy distribution segment.
Keimed is involved in the business of: (i) wholesale sale and distribution of pharmaceutical products, OTC
products, medical equipment, surgical products, scientific apparatus and equipment for hospitals and FMCG;
(ii) retail sale of specialty pharmaceutical products through certain subsidiaries and (iii) marketing and sale of
pharmaceutical products.
Detailed order of the Commission will follow.
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NB/AD(Release ID: 2170267)