Alkem Laboratories makes twin acquisitions
Live MintAlkem Laboratories Ltd has announced the acquisition of Adroit Biomed, a dermatology and cosmetology-focused company, and Bombay Ortho Industries, a medical technology firm, in two separate deals. Read this | Piramal Pharma to expand injectables portfolio in complex hospital generics business The amount of ₹140 will be paid in “two tranches, subject to adjustment on account of debt & debt like items and change in normalized working capital as on closing date and other appropriate closing adjustments,” Alkem said in a statement accompanying its December quarter earnings. Established in 2021, Bombay Ortho specializes in hip and knee implants, a key segment in India's growing medical device industry. Bombay Ortho “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 said.
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