QMS Acquires 51 per cent Stake In Saarathi Healthcare Private Limited
Feb 17, 2024
PNN
Mumbai (Maharashtra) [India], February 17: QMS Medical Allied Services Limited (NSE Code: QMSMEDI), engaged in the marketing and distribution of a wide range of medical products, as well as prioritizing Patient Services Programs, has entered into a share purchase agreement to acquire a 51 per cent stake in Saarathi Healthcare Private Limited.
QMS MAS, traditionally focused on marketing and distributing a diverse range of medical products, has recently diversified into the patient screening and service sector with its innovative Patient Service Programs (PSP). Currently serving over 130 enterprise clients in the healthcare and pharmaceutical industry, the company aims to enhance its presence in this sector.
On the other hand, Saarathi Healthcare has been a leader in pioneering services related to patient and disease management, market access, and phygital solutions for the past 15 years. With a track record of managing over 1000 projects and collaborating with more than 60 enterprise clients, their team of dedicated tele and field counselors has positively impacted millions of lives across various disease areas, including oncology, hepatology, chronic kidney disease, rare diseases, as well as in child growth and maternal health.
The recent acquisition aligns with QMS MAS's strategic priorities, intending to further expand its total addressable market in the value-added patient services vertical within the Healthcare industry.
Commenting on the acquisition, Mahesh Makhija, Chairman and Managing Director of QMS Medical Allied Services Limited, mentioned, "The acquisition of Saarathi is a logical expansion of our service offerings and a crucial step in our overall expansion strategy. While QMS MAS focuses on patient screening, Saarathi specializes in disease management, ultimately contributing to improved disease outcomes. This integration allows us to offer a comprehensive portfolio to our clients. Anticipating a substantial increase in our revenues and profitability, we expect this move to make a significant impact from the beginning of the next fiscal year."
Commenting on the acquisition, Ranjeeta Vinil, Founder & CEO of Saarathi Healthcare Private Limited, mentioned, "We are delighted to join the QMS MAS family. This integration will empower us to advance with combined strength in both products and services. It is expected to create synergies that will significantly benefit patients and contribute to improved outcomes."
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