RJ Corp, the powerhouse of business augmenting from beverages, education to real estate has enhanced its foray in the modern healthcare sector by acquiring iClinic Healthcare. The deal will perceive RJ Corp’s Diagno Labs amalgamation with iClinic.
iClinic Healthcare, founded by Vodafone ex COO Sanjoy Mukerji and Britannia MD Varun Berry, is an online healthcare provider to facilitate medical practitioners and patients to connect remotely. The strategic partnership will collaborate, consolidate and reduce operating costs and improve efficacies.
The deal brings Sanjoy Mukerji on board as the managing director of the merged entity. Together Diagno and iClinic will benefit from the experience of RJ Corp to receive funding, strategic guidance and logistic support for expansion and diversification.
iClinic healthcare plans 100 plus lab locations over 10,000 centers to provide services to the medical fraternity, diagnostic centres in up-country markets, specialists and hospitals in metro towns. The acquisition is intentioned to bring synergies to tap high-potential demand for affordable value-added healthcare services.
Ravi Kant Jaipuria, PepsiCo’s largest Indian bottler told Economic Times that the strategic partnership will offer comprehensive services to the acquired and plans to forge tie-ups with hospitals in small towns and over the next three years.
It has been certain that both Mukerji and Berry will be significant minority shareholders and be on the board of directors of the firm.
Under Ravi Jaipuria, RJ Corp has scaled a height with thriving businesses in beverages, fast food restaurants, ice cream, dairy products, breweries, healthcare, real estate and education. In terms of geographical presence, the RJ Corp footprint is spread across India and the group also has businesses in Nepal, Sri Lanka, Morocco, Zambia, Nigeria, Rwanda, Uganda, Thailand, Dubai and Australia.
Healthcare industry is projected at a market value of $280 Bn by 2020. Amongst which the diagnostic is the fastest growing segment. From Apr-Sept’14 the healthcare and diagnostic center attracted FDI of around $2.5 Mn. Earlier in the month healthcare entities started a programme known as StartHealth to provide INR 10 Cr. to early stage health startups.