|
In February this year, Alkem Medtech had executed a binding offer outlining the terms and conditions with respect to the acquisition of 100% stake of Bombay Ortho Industries. Bombay Ortho is a manufacturer and supplier of the orthopedic implants such as hip and knee implants, which are extensively used in the orthopedic field. It had recorded turnover of Rs 5.5 crore in the year ended on 31 March 2024. The cost of this acquisition was Rs 147 crore, payable in four tranches, subject to adjustment on debt, debt like items and change in normalized working capital as on closing date. In March 2025, Alkem Medtech and Bombay Ortho had executed a share purchase and share subscription agreement in this regard. In an exchange filing made post market hours on Wednesday, Alkem Labs stated that the acquisition of 100% stake in Bombay Ortho has been completed. The proposed investment by our wholly owned subsidiary 'Alkem MedTech Private Limited' is a strategic investment which will help to gain manufacturing capabilities to participate in growing orthopedic space and leveraging Bombay Ortho's expertise within the hip and knee implants segment,' Alkem Laboratories had said in a statement. Alkem Laboratories is engaged in the pharmaceutical business with global operations. The company is engaged in the development, manufacture, and sale of pharmaceutical and nutraceutical products. The company's consolidated net profit declined 1.8% to Rs 625.82 crore in Q3 FY25 as compared with Rs 637.37 crore in Q3 FY24. Net sales rose 1.5% YoY to Rs 3,374.28 crore in Q3 FY25. The scrip shed 0.08% to currently trade at Rs 4952.50 on the BSE. Powered by Capital Market - Live News |