Reliance Industries Arm to Acquire 45% Stake in Health Alliance Group for $10 Million | Read

Billionaire Mukesh Ambani’s Reliance Industries Ltd on Saturday (December 21) said its wholly owned subsidiary Reliance Digital Health Ltd (RDHL) has entered into definitive agreements to acquire a 45% equity stake in Health Alliance Group Inc. (HAGI) for a total consideration of $10 million.

HAGI is a US-based healthcare company incorporated on December 21, 2023, as a Delaware corporation. It specialises in designing technology-driven solutions for the underserved in the United States, India and the rest of the world. HAGI operates at the intersection of healthcare, information technology and innovation.

The investment will empower RDHL to develop a virtual diagnostic and care platform, expanding access to healthcare for underserved communities. The investment is not a related party transaction and none of the company’s promoter/promoter group/group companies have any interest in the above transaction.

“The transaction is subject to customary closing conditions and is expected to be completed in around 2 weeks. No governmental or regulatory approvals are required for the above transaction,” Reliance Industries said.

On Friday (December 20), shares of Reliance Industries Ltd ended at ₹1,206.00, down by ₹24.60, or 2.00% on the BSE.