Strengthens investment in channels of the future to expand patient reach
Cipla has announced that it has agreed to further invest Rs 42 crore (approx.) in digital tech company GoApptiv.
With the completion of this deal, Cipla’s total stake in GoApptiv will increase to 22.99 per cent on a fully diluted basis. This is Cipla’s third investment in GoApptiv, which will be made in a combination of equity shares and compulsorily convertible preference shares. GoApptiv has experienced significant expansion in underpenetrated areas and product lines following prior investments by Cipla in 2022 and 2020.
Commenting on the development, Umang Vohra, MD and Global CEO, Cipla said, “Our long-standing partnership with GoApptiv has helped us increase penetration in underserved rural areas of India and address critical healthcare gaps where pharmaceutical coverage is limited. In this era of technology-driven healthcare, this expanded investment will help us deliver patient-centric solutions and further strengthen our digitisation agenda to drive Cipla’s next phase of growth.”
The current investment round will further solidify the partnership with Goapptiv in addressing healthcare disparities in underserved regions of India.